The gross non-performing asset (NPA) ratio improved 76 basis points to 5.14 per cent during the quarter versus 5.90 per cent a year ago. Shares of South Indian Bank surged about 12 per cent during the early trading session after the private lender reported a strong performance in the period ended on March 31, 2023. The company reported a historic performance on various parameters, along with dividend. South Indian Bank reported its highest-ever quarterly net profit at Rs 333.9 crore in the March quarter. The Thrissur-based private lender saw its profit grow nearly 23 per cent on-year compared to its bottomline at Rs 272 crore reported in the corresponding quarter last year. Net interest income or the core income of the South Indian Bank rose 43.4 per cent on-year to Rs 857.2 crore against Rs 597.7 crore in the corresponding quarter last year. Following the announcement, shares of South Indian Bank surged about 12 per cent to Rs 18.20 on Friday, before trading at Rs 18.08 at 10.15 am. The scrip had settled at Rs 16.31 on Thursday. South Indian Bank was commanding a market capitalization a little less than Rs 3,800 crore. The gross non-performing asset (NPA) ratio improved 76 basis points to 5.14 per cent during the quarter versus 5.90 per cent a year ago. Net non-performing ratio asset ratio also improved by 111 basis points to 1.86 per cent from 2.97 per cent. The strategy of the business by the bank had contributed to the given performance, said Murali Ramakrishnan, MD & CEO at South Indian Bank. "During the period, the Bank could register growth in all the desired segments with a focus on building quality assets across all verticals like Corporate, SME, Auto Loan, Credit Card, Personal Loan Gold Loan," he said. For the full year 2022-23, the Kerala-based bank recorded the highest ever business of Rs 1.64 lakh crore, while its net profit surged manifold to Rs 775.31 crore from Rs 44.82 crore. Its net interest income rose 34 per cent to Rs 3,012 crore and net interest margin of 3.30 per cent, for the period. The board of South Indian Bank recommended a dividend of Rs 0.30 per equity share with a face value of Re 1 each for the year ended on March 31, 2023. However, the dividend recommendation is subject to the approval from the shareholders of the bank.