South Indian Bank has shared its business updates for the quarter ended December 31, 2024. The report outlines the bank’s financial performance, focusing on key metrics such as gross advances, total deposits, CASA (Current and Savings Accounts), and CASA ratio. This update serves as a snapshot of the bank’s performance and is subject to review by statutory auditors.
Key Highlights:
- Gross Advances Growth
- As of December 31, 2024, the bank’s gross advances stood at ₹86,965 crore, marking an impressive year-on-year (Y-o-Y) growth of 11.94% when compared to ₹77,686 crore recorded on December 31, 2023.
- Total Deposits
- South Indian Bank reported a total deposit of ₹1,05,378 crore as of December 31, 2024, reflecting a 6.28% Y-o-Y increase compared to ₹99,155 crore as of December 31, 2023.
- CASA (Current and Savings Accounts)
- The CASA balance as of December 31, 2024, was ₹32,831 crore, a 4.13% growth from ₹31,529 crore in the same quarter of the previous year.
- CASA continues to play a significant role in the bank’s deposit portfolio, with a CASA ratio of 31.16% as of December 31, 2024, slightly lower than the 31.80% recorded in the same quarter of the previous year.
Financial Overview (Figures in ₹ Crore):
| Particulars | 31.12.2023 (Unaudited) | 31.03.2024 (Audited) | 30.09.2024 (Unaudited) | 31.12.2024 (Provisional) | Y-o-Y Growth |
|---|---|---|---|---|---|
| Gross Advances | 77,686 | 80,426 | 84,714 | 86,965 | 11.94% |
| Total Deposit | 99,155 | 1,01,920 | 1,05,451 | 1,05,378 | 6.28% |
| CASA | 31,529 | 32,693 | 33,530 | 32,831 | 4.13% |
| CASA Ratio (%) | 31.80% | 32.08% | 31.80% | 31.16% | – |
