South Indian Bank Ltd.'s gross advances saw an 11.4% jump on a yearly basis to Rs 82,510 crore in the April–June quarter, according to provisional quarterly business updates filed with stock exchanges on Monday.
The bank reported an 8.4% advance in deposits at Rs 1.04 lakh crore in the first quarter, as compared to Rs 95,499 crore in the same period last year.
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CASA ratio—the proportion of deposits that come from low-cost current and savings accounts—dipped marginally from 32.64% to 31.87%. A higher CASA ratio indicates a lower cost of funds, since lenders do not usually give any interest on current account deposits and the interest on saving accounts is low.
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Shares of South Indian Bank closed 0.37% higher at Rs 27.05 apiece, ahead of the announcement, as compared to a 0.56% advance in the benchmark BSE Sensex.
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