The South Indian Bank (SIB) declared net profit of ₹1,070.08 crore for the financial year 2023-24, registering a growth of 38.06% compared to ₹775.09 crore in the financial year 2022-23.
While declaring the results, P.R. Seshadri, MD & CEO, added that the bank achieved highest ever business of ₹1,82,346 crore and highest ever net interest income of ₹3,332.06 crore in the history of the bank.
“Operating profit of the year increased by 23.91% from ₹1,507.33 crore in 2023 to ₹1,867.67 crore in 2024. The board of directors had recommended a 30% dividend subject to approval of the shareholders in the annual general meeting,” according to a press release from the bank.
Mr. Seshadri said that the strategy adopted by the bank continues to enable the business performance. During the period, the bank registered growth in all the desired segments.
