South Indian Bank climbs on recording 15% growth in gross advances in Q1FY24
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South Indian Bank is currently trading at Rs. 20.23, up by 0.49 points or 2.48% from its previous closing of Rs. 19.74 on the BSE.
The scrip opened at Rs. 19.81 and has touched a high and low of Rs. 20.31 and Rs. 19.53 respectively. So far 4484856 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 21.80 on 15-Dec-2022 and a 52 week low of Rs. 7.67 on 05-Jul-2022.
Last one week high and low of the scrip stood at Rs. 20.80 and Rs. 17.87 respectively. The current market cap of the company is Rs. 4206.41 crore.
The Institutions and Non-Institutions held 22.23% and 77.77% stake in the bank respectively.
South Indian Bank’s gross advances stood at Rs 74,107 crore (provisional) as of June 30, 2023 (Q1FY24), posting a 14.53% rise in year-on-year (YoY) terms against Rs 64,704 crore as of June 30, 2022 and in quarter-on-quarter (QoQ) basis stood at Rs 72,092 crore as of March 2023. Total deposits grew 8.31% to Rs 95,524 crore (provisional) as of June 30, 2023, as compared to Rs 88,196 crore on a yearly basis. On a quarterly basis, the deposits stood at Rs 91,651 crore as of March 2023.
CASA stood at Rs 31,171 crore (provisional) as of June 30, 2023, posting a 2.76% rise in year-on-year (YoY) terms against Rs 30,335 crore as of June 30, 2022 and in quarter-on-quarter (QoQ) basis stood at Rs 30,227 crore as of March 2023. CASA Ratio stood at 32.63% (provisional) as of June 30, 2023 as compared to 32.98% as of March 31, 2023.
South Indian Bank is considered one of the most proactive banks in India with a competent tech savvy team of professional at the core of services.
