South Indian Bank net profit up 17.4% on higher net interest income

admin — Thu, 16 Jul 2026 11:03:00 +0000

South Indian Bank. File
| Photo Credit: Special Arrangement

South Indian Bank (SIB) net profit increased 23% to ₹378 crore as asset quality improved and net interest income increased in the quarter ending on June 30, compared to ₹322 crore in the year-ago period.

The bank’s net interest income increased 23% to ₹1025 crore in the reporting quarter as against ₹833 crore in the year-ago period. The gross advances increased 17% to ₹1,04,368 crore in the reporting quarter.

The bank’s gross non-profitable assets as a share of total advances reduced to 1.35% in the June quarter of the current fiscal year against about 3.6% in the corresponding period last year. The net NPA reduced to 0.26% from 0.68%, highlighting healthy asset quality.

“During the reporting period, the Bank witnessed consistent growth across all targeted segments, with a sharp focus on acquiring quality assets in verticals such as corporate lending, auto loans and gold loans. Aligned with our strategic intent of ‘profitability through quality credit growth’, we have successfully onboarded new advances with low-risk profiles, ensuring a well-balanced and healthy credit portfolio,” said P.R. Seshadri, MD & CEO of the bank.

Published – July 16, 2026 04:33 pm IST

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RBI Asks These 2 Banks To Stop Adding Customers To Co-Branded Credit Cards

admin — Wed, 13 Mar 2024 13:47:17 +0000

The lenders did not disclose the reasons cited by the central bank (Representational)

Mumbai:

India’s central bank has asked South Indian Bank and Federal Bank to stop adding new customers to their co-branded credit cards, the lenders said in separate stock exchange filings on Wednesday.

South Indian Bank said it has been asked to stop on-boarding any fresh customers in its co-branded credit cards until it complies with regulatory guidelines. It will continue servicing existing customers, it said.

Federal Bank said it has been asked to halt the issuance of new co-branded credit cards by the Reserve Bank of India (RBI).

“The Bank is in the process of rectifying the areas that are deficient and will seek regulatory clearance prior to resumption of new issuance,” Federal Bank said.

The lenders did not disclose the reasons cited by the central bank but said the directive follows a recent change in rules for credit and debit cards.

As part of those rules, the RBI reiterated that co-branding partners of credit cards cannot access customer data or be involved in any of the processes after the initial issuance of the cards.

The banks, in their filings to the exchanges, did not specify whether the restrictions placed on them were due to a breach of this provision or another condition.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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South Indian Bank net profit up 17.4% on higher net interest income

RBI Asks These 2 Banks To Stop Adding Customers To Co-Branded Credit Cards