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South Indian Bank to engage International Finance Corporation as a consultant

02 Mar 2016 Evaluate

South Indian Bank has received an approval to engage International Finance Corporation as a consultant for providing advisory support for augmenting business across various verticals of the bank including Retail, Agri and Small and Medium Enterprises (SME) verticals. The board of directors at its meeting held on March 01, 2016 has approved for the same.

The bank has registered a rise of 15.58% in its net profit after tax at Rs 101.63 crore for third quarter ended December 31, 2015 under review as compared to Rs 87.93 crore for the same quarter in the previous year. Total income of the bank has increased by 6.40% at Rs 1560.98 crore for Q3FY16 as compared Rs 1467.13 crore for the corresponding quarter previous year.

Gross non-performing assets (NPAs) increased to 2.75% in the October- December quarter as against 1.80% in the same quarter previous year, while net NPAs stood to 1.18%.


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