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What is South Indian Bank: Q1FY21 Analysis about?

- South Indian Bank reported higher than expected Q1FY21 earnings of Rs817 million, supported by lower provisions and better treasury income despite a challenging operating environment. - Net interest income growth was muted at 9.6% YoY due to weak loan growth and declining yields. 36% of loans remained under moratorium as of end-June. - Asset quality was steady with lower slippages, but provisions remained elevated. The bank maintains a buy rating with a target price of Rs11 based on improving asset qual

Author

whitenagar

Language

EN