South Indian Bank Ltd.Profit +21%, NIM 3.33%, GNPA 1.24%, NNPA 0.09%

South Indian Bank's Q2 FY27 call, held on 16 October 2026, was the first under new MD and CEO Mahesh Muralidhar Pai.

Net profit was a record ₹426 crore, up 21%, net interest income ₹1,116 crore, up 38%, and net interest margin 3.33%, beating the 3.25% guide. Deposits and advances each grew 19% to ₹1,37,279 crore and ₹1,09,517 crore, while gross NPA fell to 1.24% and net NPA to 0.09%. Management kept its 15% to 16% growth guide, aiming near 16%, and expects margin of 3.45% to 3.50% over four quarters and ROA rising from 1.1% to 1.20% to 1.25% within a year.

Gold loans, up 41%, are 25% of the book and targeted at 35%. Cost-to-income is aimed at 50%, but absolute cost is expected only to stay stable. Current accounts include one-off IPO money, and recoveries of ₹50 to 55 crore a quarter will fade. No ECL figure was given.