According to the data released by the bank, its gross advances witnessed a remarkable year-on-year (Y-o-Y) growth rate of 14.53% as of 30 June 2023. The gross advances stood at Rs 74,107 crore, marking a significant increase from Rs 64,704 crore reported in the same period last year. On a sequential basis, the bank recorded a solid growth rate of 2.79% in gross advances compared to the previous quarter.

South Indian Bank's total deposits also showed a positive trajectory, with a Y-o-Y growth rate of 8.31%. As of 30 June 2023, the total deposits reached Rs 95,524 crore, up from Rs 88,196 crore in the corresponding period last year. The sequential growth rate for total deposits was reported at 4.23%, indicating sustained momentum in attracting deposits from customers.

In terms of the bank's Current Account and Savings Account (CASA), the data revealed a moderate but steady growth. The CASA balances witnessed a Y-o-Y growth rate of 2.76%, amounting to Rs 31,171 crore as of 30 June 2023, compared to Rs 30,335 crore in the previous year. On a sequential basis, the CASA balances showed a growth rate of 3.12% compared to the previous quarter.

However, the CASA Ratio, which represents the proportion of low-cost deposits to total deposits, experienced a decline of 176 basis points (BPS) on a Y-o-Y basis. As of 30 June 2023, the CASA Ratio stood at 32.63%, down from 34.39% in the same period last year. On a sequential basis, there was a slight decrease of 35 BPS in the CASA Ratio compared to the previous quarter.

South Indian Bank is a major private sector bank headquartered at Thrissur in Kerala, India.

The bank reported 22.7% jumped in net profit of Rs 333.89 crore on 26% rise in total income to Rs 2,318.33 crore in Q4 FY23 over Q4 FY22.