THE SOUTH INDIAN BANK = Q3 OF FY 2011 = RESULTS = QTR ENDING DEC, 2010 = CONTINUING ON GROWTH PATH = AMBITIOUS GROWTH PLAN = GOOD FUTURE PROSPECTS

The South Indian Bank Limited

NSE Symbol   SOUTHBANK

RESULTS FOR Q3

ENDING DECEMBER, 2010.

SOUTH INDIAN BANK has produced good results for Q/e  December,2010.

Interest on Advances: is Rs.497 Cr – up by 9.01% from Q2; up by 17.93% from Q1; up by 22.33% from Q4 of FY10; and up by 29.35% from Q3 of FY10.

Income on Investments : is Rs.123 Cr – up by 5.79% from Q2;up by 12.4% from q1; up by 22.22% from Q4 of FY 10; and up by 32.53% from Q3 of FY 10.

Total Income is Rs.672 Cr – up by 7.68% from Q2; Up by 15.57% from Q1; up by 20.57% from Q4 of FY 10; and up by 26.64% from Q3 of FY 10. All major streams have recorded good improvement in revenue.

Net Interest income (earned – expended) is rs.205 Cr – up by 3.79% from Q2; Up by 22.36% from Q1; up by 159.62% from Q4 of FY10; and up by 19.21% Q3 of FY10.

Operating Profit is Rs.143 Cr – up by 14.47% from Q2; up by 36.84% from Q1; up by 176.86% from Q4 of FY10; and up by 20.86 % from Q3 of FY 10.

Provisions       is Rs.29.83 cr – compared to Rs.6.81 cr in Q2 and Rs.19.46 Cr in Q3 of FY10.

Net Profit is Rs.75 cr – down by 2.13% from Q2; UP by      28.95% from Q1; up by 95.13% from Q4 of FY10; and up by 20.65% from Q3 of FY10.

Capital Adequacy Ratio is quite healthy at 14.10.

Basic EPS is Rs.0.67 on a face value of Rs.1 (against Rs.0.553 on a FV of Rs.1 in Q3 of FY10). The share has been sub-divided from Rs.10 FV to Rs.1 FV recently.

% of Gross/Net NPA      is quite healthy at 0.39.

Return on Assets is quite good at Rs.1.06 – which is improving very fast  in the last 4 quarters.

The Bank has been recording good growth numbers in recent quarters. It has now set its ambitions much higher, for acquiring ALL INDIA  visibility and is expanding fast. The Bank plans to open about 60 Branches in current year.

It is also receiving several prestigious awards  for its performance.

RESULTS IN NUMBERS :

south Indian Bank	31-Dec-10	30-Sep-10	30-Jun-10	31-Mar-10	31-Dec-09
Interest on Advances	49663	45560	42113	40599	38395
DIF %1	497	9.01	17.93	22.33	29.35
Income on Investments	12316	11642	10957	10077	9293
DIF %2	123	5.79	12.4	22.22	32.53
Income on Balances With RBI	287	751	942	704	1091
Interest Earned	62266	57953	54012	51380	48779
Other Income	4970	4485	4166	4385	4312
Total Income	67236	62438	58178	55765	53091
DIF %3	672	7.68	15.57	20.57	26.64
Interest Expended	41787	38221	37276	43492	31600
NII	20479	19732	16736	7888	17179
DIF %4	205	3.79	22.36	159.62	19.21
Employees Cost	6907	7738	6747	3311	6156
Other Opertng Expenses	4256	3999	3715	3802	3515
Operatng Expenses	11163	11737	10462	7113	9671
Operating Profit	14286	12480	10440	5160	11820
DIF %5	143	14.47	36.84	176.86	20.86
Provisions	2983	681	1670	-	1946
Tax Expense	3767	4099	2926	1606	3628
Net Profit	7536	7700	5844	3862	6246
DIF %6	75	-2.13	28.95	95.13	20.65
Face Value (in Rs.)	1	1	10	10	10
Paid-up Equity	11301	11301	11301	11301	11301
Dividend (%)	-	-	-	40	-
Capital Adequacy Ratio	14.10	14.38	14.65	14.73	16.12
Basic EPS	0.67	0.68	5.17	3.42	5.53
Diluted EPS	0.66	0.67	5.15	3.4	5.52
Gross/Net NPA	7433	6711	6476	6157	5674
% of Gross/Net NPA	0.39	0.38	0.39	0.39	0.39
Return on Assets	1.06	1.15	0.23	0.16	0.28
Public holding (%)	0	0	100	100	100

•   South Indian Bank has bagged the Businessworld India’s Best Bank 2010 Award.
• Ø   
• South Indian Bank received the award for the “Best Bank” in the old generation banks’ category - ‘fe India’s Best Bank Awards’ . “Financial Express” Awards for “India’s Best Banks” were selected by Ernst &Young. The function was organized at the Taj Mahal Hotel, Mumbai on 25th July, 2009.
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• Ø  South Indian Bank received the award for the best bank in asset quality among all private sector banks in India from Mr.James E Thompson, GBS Chairman & Chief Executive, Crown Group of companies on 18th February 2009 at Mumbai.

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