South Indian Bank net up 105 pc

New Delhi, Apr 26 (UNI) South Indian Bank today declared a 105 per cent increase in its net profit of Rs 104.12 crores for the Q4 2007 in comparison with Rs 50.90 crores for the corresponding period last year.

The bank implemented the 100 per cent Core Banking Solution and crossed Rs 20,000 crore mark in the total business.

The total business of the bank registered a growth of 25.87 per cent from Rs 16,324 crore to Rs 20,549 crore on a year-on-year basis. The bank has registered a total income of Rs 1,080 crore registering a growth of 29.50 per cent as against Rs 834 crore for the previous year.

The bank is planning to open 25 more branches and also increasing its business to Rs 25,000 crore by the end of this fiscal year.

UNI