Friday, Jan 2: Shares of South Indian Bank climbed over 2% in early trade on Friday after the private sector lender reported steady growth in advances, deposits and CASA for the December quarter.
The bank’s advances grew to Rs 96,765 crore, marking a 4.9% sequential increase from Rs 92,287 crore in the previous quarter. On a year-on-year basis, loan growth stood at 11.3%, slightly below the management’s guided range of 12%, but still reflecting healthy credit expansion.
Deposits rose 12.2% year-on-year to Rs 1.18 lakh crore, exceeding the bank’s full-year guidance of 10% growth. The improvement in deposit mobilisation supported balance-sheet expansion during the quarter.
The lender also reported strong traction in low-cost deposits. CASA deposits increased 14.65% year-on-year to Rs 37,640 crore, compared with Rs 32,830 crore in the same quarter last year. As a result, the CASA ratio improved to 31.84%, up from 31.15% a year ago.
At around 9:07 am, shares of South Indian Bank were trading at Rs 38.70, up over 2% on the NSE.
Over a longer horizon, South Indian Bank shares have gained nearly 47% in the last 12 months, reflecting improved operating metrics and sustained investor interest.
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