SOUTHBANK

Bank Q3 result: Net profit rises to Rs 374 crore, asset quality improves

SouthIndian Bank delivered a steady performance in its third quarter result on Thursday. The Bank reported a net profit of Rs 374 crore up 9.36 per cent from Rs 342 crore a year ago Similarly, net interest income also saw a marginal uptick to Rs 881 crore, up 1.38 per cent compared to Rs 869 crore year-on-year. In the third quarter result the company's asset quality also improved, as Gross Non Performing Asset dropped to 2.67 per cent from 2.93 per cent in the previous quarter, while Net NPA eased to 0.45 per cent from 0.56 per cent quarter-on-quarter.