V G Mathew, MD & CEO of the bank, announcing the results, stated that during the first quarter in FY18, the Bank’s operating profit registered a growth of Rs 120 Crores (46.25 per cent) and Profit after Tax registered a growth of Rs 6 Crore (6.74 per cent), driven by strong performance to increase in NII and Other Income, the bank said in a release here.
In an interview to CNBC-TV18, VG Mathew, MD & CEO of South Indian Bank spoke about the results and his outlook for the company.
Speaking to CNBC-TV18 VG Mathew of MD & CEO Of South Indian Bank said that slippages in June quarter were from the retail side.
In an interview to CNBC-TV18 after reporting the fourth quarter results, VG Mathew, MD & CEO of South Indian Bank said, slippages are mainly from large corporate book, which have gradually been substantially cleaned up.
Speaking to CNBC-TV18, VG Mathew, MD and CEO of South India Bank said that the bank is on track to achieve its net interest margin guidance of 2.5-2.8 percent.
The bank's gross NPA rose 25 percent quarter-on-quarter. Of this, Rs 119 crore of fresh NPA is from one large restructured pharma account, says VG Mathew, MD and CEO of South Indian Bank
In an interview with CNBC-TV18's Sonia Shenoy and Anuj Singhal, VG Mathew, MD and CEO, South Indian Bank, discussed the bank‘s dismal fourth quarter earnings, explaining that one-time employee costs and an increase in provisioning weighed on profit.
South Indian Bank's net interest income of the private sector lender, the difference between interest earned and interest expended, fell 8.7 percent to Rs 320 crore in the quarter ended December 2014 from Rs 350.5 crore in the year-ago period.