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South Indian Bank to open representative office in Dubai

16 Nov 2016 Evaluate

South Indian Bank has received an approval from Reserve Bank of India (RBI) to open its representative office in Dubai, UAE.

The Bank has reported 18.36% rise in its net profit at Rs 110.52 crore for second quarter ended September 30, 2016 as compared to Rs 93.38 crore for the same quarter in the previous year. Total income of the Bank increased by 4.58% at Rs 1596.08 crore for Q2FY17 as compared Rs 1526.19 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the July- September quarter of the current fiscal increased to 3.96%, as compared to 2.24% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 2.27% in Q2FY17.


Peers
Company Name CMP
HDFC Bank 685.85
ICICI Bank 1378.20
Axis Bank 1221.00
Kotak Mahindra Bank 452.90
Indusind Bank 855.10
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