Deposits in South Indian Bank rise by 9%, but shares trade in red after gains

The Thrissur-headquartered South Indian Bank said that the total deposits rose by 9 per cent to ₹1.13 lakh crore in the first quarter ended June 30, compared to the same period a year ago. 

Following this, the bank's shares rose in early trading on Wednesday but later slipped into negative territory, declining by 1.36 per cent to ₹31.17 as of 12.25 pm.

In documents submitted to the stock exchange, the banks said that their gross advances rose by 8.02 per cent in the quarter to ₹89,201 crore, compared to ₹82,580 crore in the same period in the previous financial year. Gross advances represent the total sum of all loans and credit facilities extended by a bank to its customers.  

The bank also said that its Current Account Savings Account (CASA) stood at ₹36,204 crore in the quarter, representing an increase of 9.06 per cent. Meanwhile, the CASA ratio remained unchanged at 32.06 per cent. However, this ratio represents an increase from the 31.37 per cent recorded in the previous quarter. 

In May, the bank reported a 19 per cent rise in its net profit for the fourth quarter to ₹342.19 crore, compared to ₹287.56 crore in the same period last year. 

The company also saw its net interest income decline by 0.73 per cent in Q4 to ₹868.32 crore, compared to ₹874.67 crore in the same period last year. The bank's earnings per share also decreased to ₹1.31 in the period, as against ₹1.35 in Q4 2024.