South Indian Bank posts ₹92 cr loss in December quarter
The bank had recorded a net profit of ₹90.54 crore in the corresponding period of the previous financial year
New Delhi: Private sector lender South Indian Bank on Thursday posted a loss of ₹91.62 crore for the third quarter ended December 31, 2020, due to an increase in provisioning for bad loans.
The bank had recorded a net profit of ₹90.54 crore in the corresponding period of the previous financial year.
Its total income during October-December 2020 also declined to ₹2,082.08 crore, compared with ₹2,187.73 crore in the year-ago period, South Indian Bank said in a regulatory filing.
Gross non-performing assets (NPAs) fell marginally to 4.90 per cent of the total advances, compared with 4.96 per cent at the end of the third quarter of previous fiscal.
Net NPAs declined to 2. 12 per cent in October-December 2020, from 3.44 per cent a year ago.
Provisions other than tax and contingencies rose to ₹499.48 crore, against ₹260.94 crore a year ago.
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