Jan 11, 2017 02:46 PM IST | Source: CNBC-TV18

Loan growth target for FY17 is 15%: South Indian Bank

Speaking to CNBC-TV18, VG Mathew, MD & CEO said that gains in treasury income aided other income. Slippages in the third quarter were at Rs 196 crore Y-o-Y.

South Indian Bank reported a net profit growth of 9.6 percent to Rs 111.4 crore and net interest income of Rs 417.5 crore, up 2.7 percent year-on-year. Gross non-performing assert (GNPAs) came at 3.98 percent in the third quarter of current fiscal.

Speaking to CNBC-TV18, VG Mathew, MD & CEO said that gains in treasury income aided other income. Slippages in the third quarter were at Rs 196 crore Y-o-Y.

The bank’s loan growth stands at 11.4 percent in Q3. Demonetisation has not impacted the loan growth, Mathew said adding that FY17 loan growth target is 15 percent.

Home loan and loan against property saw a robust growth of 33 percent YoY in the quarter gone-by.

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