South Indian Bank Ltd Q1FY13 result

South Indian Bank Ltd has announced its Q1FY13 result on 16^th July 2012. The bank’s total income increased by 1.28% QoQ and 44.88% YoY to INR371.76 crores mainly, because of the robust growth in bank’s Net Interest Income (NII) and Other Income by 44.79% and 45.23% YoY to INR296.76 and 74.98 crores respectively. The Profit After Tax (PAT) increased by 0.89% QoQ and 49.16% YoY to INR123.04 crores.

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On the assets quality front, the bank’s assets quality is the matter of concern. The GNPA and NNPA stood at 1.08% and 0.35%, increased by 11 and 7bps QoQ and 1 and 6bps YoY respectively. However, the bank is in good position to tame any time liabilities with 13.16% of its Capital Adequacy Ratio (CAR), which is 4.16% higher than the regulator stipulated norm. Moreover, the bank has improved its Net Interest Margin (NIM) by 5bps QoQ and 62bps YoY to 3.15%.

South Indian Bank Quarterly-[INR-Crores]
DESCRIPTION	Q1'13	Q4'12	Q1'12	QoQ%	YoY%
Interest Earned	1069.43	993.86	768.72	7.60	39.12
Interest Expended	772.65	709.30	563.75	8.93	37.06
NII	296.78	284.56	204.97	4.29	44.79
Other Income	74.98	82.50	51.63	-9.12	45.23
Total Income	371.76	367.06	256.60	1.28	44.88
Operating Expenses	164.27	204.03	113.46	-19.49	44.78
Operating Profit before Prov.& Cont.	207.49	163.03	143.14	27.27	44.96
Provisions and Contingencies	25.39	12.33	20.84	105.92	21.83
PBT	182.10	150.70	122.30	20.84	48.90
Tax	59.06	28.75	39.81	105.43	48.35
Profit After Tax	123.04	121.95	82.49	0.89	49.16
Adj Calculated EPS	1.08	1.07	0.73	0.93	47.95
	Q1'13	Q4'12	Q1'12	QoQ (bps)	YoY(bps)
Capital Adequacy Ratio Basel II	13.16%	14.00%	13.51%	-84.00	-35.00
% of Net NPAs	0.35%	0.28%	0.29%	7.00	6.00
% of Gross NPAs	1.08%	0.97%	1.07%	11.00	1.00
NIM (%)	3.15%	3.10%	2.77%	5.00	62.00
C/I Ratio	44.19%	55.58%	44.22%	-1139.00	3.00
OI/TI	55.81%	44.42%	55.78%	1139.00	3.00

Regards,

Team Microsec Research