For the first nine months of FY26, South Indian Bank reported a net profit of Rs 1,048 crore, compared with Rs 961 crore last year. Total income rose to Rs 8,910 crore, reflecting stable operational performance
South Indian Bank reported a solid financial performance in the third quarter of FY26, supported by steady deposit growth and a sharp improvement in asset quality. The Kerala-based private sector lender posted a net profit of Rs 374 crore for the December quarter, marking a 9.3 per cent increase from Rs 341.87 crore in the same period last year.
The bank’s retail and NRI deposits together crossed Rs 1.49 lakh crore during the quarter. Retail deposits rose to Rs 1,15,563 crore, up from Rs 1,02,420 crore a year ago, while NRI deposits increased to Rs 33,965 crore from Rs 31,132 crore. This reflects growing confidence among both domestic and overseas customers.
Low-cost deposits also showed healthy growth. The bank’s CASA deposits grew by 15 per cent year on year. Savings Bank deposits rose by 14 per cent, while current account balances increased by a strong 20 per cent, helping improve the overall deposit mix
Asset quality continued to strengthen during the quarter. Gross non-performing assets declined sharply by 163 basis points to 2.67 per cent, compared with 4.30 per cent a year earlier. Net NPAs also improved, falling by 80 basis points from 1.25 per cent to 0.45 per cent.
On the lending side, gross advances grew by 11 per cent to Rs 96,764 crore, an increase of Rs 9,798 crore over the previous year. The gold loan portfolio recorded a strong 26 per cent growth, rising to Rs 20,952 crore. Vehicle loans also expanded by 24 per cent, reaching Rs 2,393 crore.
Managing Director and CEO P R Seshadri said the bank’s clear strategy and focus on asset quality had supported growth across key segments, including corporate, MSME, housing, auto and gold loans.
