South Indian Bank Q2 FY27 Net Profit Soars 21% to ₹426 Crore, Highest Ever
South Indian Bank reported its highest-ever quarterly net profit of ₹426.13 crore for Q2 FY27, a 21.28% increase Y-o-Y. Net Interest Income grew 38% to ₹1,116 crore, and Operating Profit rose 37% to ₹732 crore. GNPA improved to 1.24% and NNPA to 0.09%. Deposits and advances saw robust growth.
The announcement details record-breaking financial results, including highest-ever net profit and significant year-on-year growth across key metrics like NII, operating profit, deposits, and advances. Improvements in asset quality (GNPA/NNPA) are also substantial, indicating a very positive outlook for the bank's financial health and market position.
The bank reported record net profit, significant growth in NII and operating profit, and substantial improvements in asset quality (GNPA and NNPA reduction). This indicates strong financial performance and operational efficiency.
The South Indian Bank Ltd. has announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The bank recorded its highest-ever quarterly net profit of ₹426.13 crore for Q2 FY2026-27, marking a significant growth of 21.28% compared to ₹351.37 crore in the same period of the previous fiscal year (Q2 FY2025-26).
Key highlights for Q2 FY2026-27 include a record Net Interest Income (NII) of ₹1,116 crore, a year-on-year (Y-o-Y) increase of 37.95%. Operating Profit also saw substantial growth, rising by 37% Y-o-Y to ₹732 crore. The Net Interest Margin (NIM) improved from 2.80% to 3.33% Y-o-Y. Asset quality showed marked improvement with Gross Non-Performing Assets (GNPA) decreasing by 169 basis points to 1.24% and Net Non-Performing Assets (NNPA) dropping by 47 basis points to 0.09% Y-o-Y. The Provision Coverage Ratio (PCR) also saw significant increases.
On the deposit front, retail deposits grew by ₹16,728 crore (14.85% Y-o-Y) to ₹1,29,353 crore, and NRI deposits increased by ₹5,008 crore (15.09% Y-o-Y) to ₹38,203 crore. CASA grew by 17.56% Y-o-Y, with Savings Bank deposits up by 14.34% and Current Account deposits by 31.19%.
Gross advances grew by ₹17,231 crore (18.67% Y-o-Y) to ₹1,09,517 crore. The Corporate Segment grew by 16.63% Y-o-Y, while the Gold Loan portfolio saw a remarkable surge of 41.17% Y-o-Y, growing by ₹7,758 crore to ₹26,603 crore. Other segments like Business loans, Mortgage loans, and Vehicle loans also registered healthy growth rates.
Mr. Mahesh Muralidhar Pai, MD & CEO of the Bank, stated, "Our strategy continues to centre around sustained profitability, superior asset quality, a resilient loan book, and a robust retail liability portfolio. We are sharpening our organizational structure and leveraging digital technology to effectively achieve our business objectives." He highlighted consistent growth across targeted segments and a focus on acquiring quality assets and liabilities with low-risk profiles.
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See the model portfoliosA plain-language summary of a public exchange filing by The South Indian Bank Limited. Read the original for the full detail.