South Indian Bank reported 27.16% rise in Net Profits for Q1

Thebullishtrends: South Indian Bank (CMP:Rs.103.60) reported a 27.16% increase in net profit at Rs 38.62 crore for the quarter ended June 30, 2008 when compared with Rs 30.37 crore in Q1FY08. As per the bank announcement the total business has grown 21.92% Rs,4,679 cr
to Rs 26,022 crore in Q1FY09 from Rs 21,343 crore in Q1FY08. While deposits increased 19.82% (Rs 2,544 crore) from Rs 12,834 crore to Rs 15,378 crore, advances increased 25.08% (Rs 2,134 crore) from Rs 8,509 crore to Rs 10,643 crore.

Capital adequacy ratio of the bank is 13.93% against the regulatory requirement of 9%. During the quarter, the book value per share has increased from Rs 107.01 to Rs 132.70