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South Indian Bank: South Indian Bank Q4 final results: Stories net loss of Rs 143.69 cr, net NPAs at 3.34% YoY

NEW DELHI: Private sector lender South Indian Bank on Friday reported a net loss of Rs 143.69 crore for the fourth quarter ended March 2020, due to multi-fold bounce in provisioning need.
The bank had posted a net profit of Rs 70.51 crore during the corresponding quarter of the preceding fiscal year.
Cash flow in the course of the March 2020 quarter greater to Rs 2,341.88 crore, in comparison with Rs 2,026.59 crore a yr in the past, it explained in a regulatory filing.
Its provisioning for undesirable loans and contingencies for the quarter jumped over a few instances to Rs 723.80 crore, against Rs 219.15 crore.
For the comprehensive economical calendar year 2019-20, the bank reported a net profit of Rs 104.59 crore, down 58 per cent as in opposition to Rs 247.53 crore in 2018-19.
However, the lender’s income all through the year rose to Rs 8,809.55 crore, from Rs 7,602.73 crore in the former financial calendar year.
With regard to bad assets, gross non-executing assets (NPAs) have been nearly static at 4.98 per cent of the gross innovations as on March 31, 2020, from a 12 months ago’s 4.92 for each cent.
Web NPAs stood at 3.34 for each cent at the conclusion of March 2020, compared with 3.45 per cent by the close of March 2019.
On the impact of the coronavirus pandemic, it explained the bank’s functions and financial position would depend on many elements, like the techniques taken by governments and the Reserve Bank of India.
South Indian Bank’s shares on Friday closed 2.20 per cent increased at Rs 8.83 apiece on the BSE.

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