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South Indian Bank eyes bigger pie of retail loans, to focus more on auto and homes

The lender recorded its highest-ever quarterly net interest income for Q3FY23, at Rs 825 crore, against Rs 573 crore on a year-on-year basis. Its net profit for the quarter was at Rs 103 crore, against a net loss of Rs 50 crore during the corresponding quarter last year.

January 25, 2023 / 11:42 AM IST

Thrissur-based private-sector lender South Indian Bank (SIB) is targeting a bigger share of the booming retail loan market, focusing particularly on auto and home loan segments, said Murali Ramakrishnan, managing director and chief executive officer (MD & CEO).

The bank recorded its highest-ever quarterly net interest income for Q3FY23, at Rs 825 crore, against Rs 573 crore on a year-on-year basis.

In an exclusive interaction with Moneycontrol after the quarterly results, Ramakrishnan said the bank is exploring partnerships with builders to further expand into the retail lending sector.

“Our retail book has seen good growth. We would like to meet the market demand for the auto and home loan sectors,” Ramakrishnan said.