The South Indian Bank has announced the Q4 results with a net profit of ₹6.79 crore as against a loss of ₹143.69 crore during the corresponding period of the previous year.
The net profit for the current financial year is ₹61.91 crore as against ₹104.59 crore of the previous financial year.
Murali Ramakrishnan, MD & CEO of the bank, while announcing the results, said that the prevailing pandemic scenario in the country had impacted the growth in the business and personal loan segment.
He said that the lower quarterly profit was mainly on account of credit cost on the fresh slippages during the fourth quarter as a result of additional stress in the economy due to the pandemic.
