The South Indian Bank532218Banking
South Indian Bank reported Q2 results with improved NIM and asset quality, and MD Mahesh Pai discussed guidance on credit growth, provisions, credit cost, ROA and treasury income
By ScoutQuest · · 1 min read
- Credit growth current
- 19 percent
- Liabilities growth current
- 15 percent
- Credit growth guidance revised
- 16 to 17 percent
- FCNR deposit flows
- 239 million dollars
- Net NPA
- 0.09 percent
Heard on business television between 11:05:57 - 11:08:57 IST.
- MD Mahesh Murlidhar Pai said credit growth is currently around 19% and liabilities growth at 15%, against earlier guidance of 15-16%, expecting to end the year at 16-17%.
- Bank received 239 million dollars in FCNR deposit flows despite no overseas presence, deployed into credit.
- Net NPA at 0.09% with absolute NPA just above 100 crore rupees, among lowest in industry; provisions rose due to a cautious approach, not stress.
- Credit cost ticked up from 0.09% to 0.14%, expected to stabilize at this level; ROA guidance raised to 1.18-1.20% from current 1.10%.
- NIM currently at 3.33%, expected to improve to 3.36-3.37% in near term and aim for 3.40-3.45%.
- On treasury income, yields rose from 7.17-7.19% range to around 7.40%; every 10 bps yield increase could lower treasury income by 10-11 crore rupees.
- Gold loan book grew 41% YoY due to new customer additions, not price rise, as gold prices have actually corrected since January-February.
- Bank is not currently looking at any strategic capital or investors.
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