South Indian Bank Q1 FY27 Net Profit Jumps 17.3% to ₹377.63 Cr
South Indian Bank reported a Q1 FY27 net profit of ₹377.63 Cr, up 17.3% YoY. GNPA fell to 1.38% and NNPA to 0.26%. Net Interest Income reached a record ₹1,025 Cr, up 23.1%. Gross advances grew 17% to ₹1,04,368 Cr, while deposits rose 13.7% to ₹1,24,306 Cr.
The announcement details strong financial performance and improvements in key banking metrics, which are highly material to investors and stakeholders.
The bank reported strong year-on-year growth in net profit, net interest income, advances, and deposits, along with significant improvements in asset quality (GNPA and NNPA reduction).
The South Indian Bank Limited announced its unaudited financial results for the quarter ended June 30, 2026. The bank reported a net profit of ₹377.63 crore for Q1 FY27, marking a significant growth of 17.29% compared to ₹321.95 crore in the same quarter of the previous fiscal year (Q1 FY26).
Key highlights for Q1 FY27 include a substantial improvement in asset quality, with Gross Non-Performing Assets (GNPA) decreasing by 177 basis points to 1.38% and Net Non-Performing Assets (NNPA) dropping by 42 basis points to 0.26% on a year-on-year basis. The Provision Coverage Ratio (PCR) also saw significant increases, both excluding and including write-offs.
The bank achieved its highest ever Net Interest Income (NII) of ₹1,025 crore, a growth of 23.05% year-on-year. Total deposits grew by 13.66% to ₹1,24,306 crore, with retail deposits increasing by ₹14,938 crore and NRI deposits by ₹4,139 crore. CASA deposits grew by 14.61% year-on-year.
Gross advances increased by 17.01% to ₹1,04,368 crore. The bank witnessed strong growth in specific segments, with Gold Loans growing by 42.90%, Mortgage loans by 78.65%, and Vehicle Loans by 12.63%. The Corporate Segment grew by 12.38% in well-rated borrower accounts. The bank also noted that 98.81% of its large corporate segments are rated A and above.
Mr. P R Seshadri, MD & CEO of the Bank, stated that the bank's strategy focuses on sustained profitability, superior asset quality, a resilient loan book, and a robust retail liability portfolio. He emphasized the sharpening of the organizational structure and leveraging digital technology to achieve business objectives, with a focus on acquiring quality assets in verticals such as Corporate Lending, Auto Loans, and Gold Loans.
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