South Indian Bank zooms on recording 18% growth in gross advances in Q3FY23
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South Indian Bank is currently trading at Rs. 20.30, up by 1.05 points or 5.45% from its previous closing of Rs. 19.25 on the BSE.
The scrip opened at Rs. 19.90 and has touched a high and low of Rs. 21.25 and Rs. 19.80 respectively. So far 3992665 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. 7.27 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 21.25 and Rs. 17.50 respectively. The current market cap of the company is Rs. 4248.26 crore.
The Institutions and Non-Institutions held 19.46% and 80.55%, stake in the Bank respectively.
South Indian Bank reported 18% growth in its gross advances to Rs 70,168 crore (provisional) as of December 31, 2022 (Q3FY23), as compared to Rs 59,226 crore as of December 31, 2021 (on a yearly basis). On a quarterly basis, the gross advances stood at Rs 67,963 crore as of September 2022.
The bank’s total deposits marginally rise 3% to Rs 90,714 crore (provisional) as of December 31, 2022, as compared to Rs 88,348 crore as of December 31, 2021. CASA Ratio stood at 33.84% (provisional) as of December 31, 2022 as compared to 33.21% as of March 31, 2022. CASA Deposits stood at Rs 30,699 crore (Provisional) as of December 31, 2022, posting a 9% rise in year-on-year (YoY) terms as against Rs 28,229 crore as of December 31, 2021.
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.
