South Indian Bank on Thursday reported a 23 per cent rise in net profit to Rs 275 crore for the September quarter as provisions for bad loans came down significantly. The lender had posted a net profit of Rs 223 crore in the year-ago period. During the July-September period, total income increased to Rs 2,485 crore as against Rs 1,995 crore in the same quarter a year ago, South Indian Bank said in a regulatory filing. The interest income grew to Rs 2,129 crore from Rs 1,740 crore in the corresponding quarter a year ago. The lender’s asset quality improved as gross non-performing assets (NPAs) fell to 4.96 per cent of gross advances as of September 2023 over 5.67 per cent by the end of…
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