Thrissur-based South India Bank recorded a 75% growth in net profit for the quarter ended June 30, on higher interest income. Net Profit for the quarter amounted to Rs 202.35 crore compared to Rs 115.35 crore in the same period a year ago. Net interest income went up 34 percent from Rs. 603.38 crore in the June’22 quarter to Rs. 807.77 crore in the latest quarter.Speaking to ET , Murali Ramakrishnan, MD & CEO of the Bank said that the bank managed to improve its net interest margin. “ Net interest margin for the quarter increased to 3.34 percent during the quarter from 2.74 percent in the same period a year ago” while the cost of funds rose from 4.5 percent in June’22 quarter to…
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south indian bank q1 results: South Indian Bank Q1 Results: Net profit jumps 75% YoY on higher interest margins
