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South Indian Bank to have IFC as consultant

South Indian Bank will engage International Finance Corporation as a consultant for providing advisory support for improving its business across various verticals, including retail, agri and MSEs. The bank’s board has given an approval for the proposal. The bank has registered a rise of 15.58% in its net profit after tax at Rs 101.63 crore for third quarter ended 31 December 2015 as compared to Rs 87.93 crore for the same quarter in the previous year. Gross NPAs increased to 2.75% in the October- December quarter as against 1.80% in the same quarter previous year, while net NPAs stood to 1.18%.

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