South Indian Bank – India Banking News

Domestic Systemically Important Banks (D-SIBs) – Update (January, 2023) – GKToday

The Reserve Bank of India (RBI) has named the top three lenders in India – State Bank of India (SBI), ICICI Bank, and HDFC Bank – as Domestic Systemically Important Banks (D-SIBs), or banks that are too big to fail. In other words, these banks are interconnected entities whose failure could potentially impact the entire financial system and cause instability. As a result, they are subject to closer supervision and regulation by the RBI.
What is a D-SIB?
A D-SIB is a bank that is considered to be so important to the financial system that its failure could cause significant disruption. As a result, these banks are required to maintain higher capital buffers to protect against…
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Source: https://www.gktoday.in/domestic-systemically-important-banks-d-sibs-update-january-2023/?amp=1

South Indian Bank Profit: South Indian Bank logs 23% rise in profit

Mumbai: Thrissur-based private lender South Indian Bank reported its highest-ever quarterly net profit at ₹333.9 crore in the March quarter. The bank saw its profit grow nearly 23% on-year versus the ₹272 crore reported in the corresponding quarter last year.For the full fiscal year 2022-23, the bank reported a profit of ₹775 crore. The bank also declared a dividend of 30 paise per equity share.Net interest income or the core income of the bank rose 43.4% on-year to ₹857.2 crore against ₹597.7 crore in the corresponding quarter last year.The gross non-performing asset ratio improved 76 basis points to 5.14% during the quarter versus 5.90% a year ago. Net non-performing ratio…
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Source: https://economictimes.indiatimes.com/markets/stocks/earnings/south-indian-bank-logs-23-rise-in-profit/articleshow/100171820.cms?from=mdr

South Indian Bank dividend 2024 news: Bank stock under Rs 50 to announce cash reward

Updated Apr 26, 2024 | 10:17 AM ISTSouth Indian Bank Dividend 2024 Latest News: Shares of South Indian Bank Limited, a private sector bank, will be in focus next week, as the private sector lender is all set to announce the next dividend for its shareholders. South Indian Bank dividend 2024 news: Bank stock under Rs 50 to announce cash reward (Image: iStock/ET NOW NEWS)South Indian Bank Dividend 2024 Latest News: Shares of South Indian Bank Limited, a private sector bank, will be in focus next week, as the private sector lender is all set to announce the next dividend for its shareholders. The private bank has fixed the dividend announcement date. South Indian Bank’s dividend record…
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Source: https://www.etnownews.com/markets/south-indian-bank-dividend-2024-news-bank-stock-under-rs-50-to-announcecashreward-article-109611090/amp

SIB partners with CISI to elevate professional standards and enhance financial advisory skills among staff -The Standard Health

Standard Investment Bank (SIB) and the Chartered Institute for Securities and Investment (CISI) have teamed up to elevate professional standards and financial advisory skills among staff. [Courtesy]

Standard Investment Bank (SIB) has partnered with the Chartered Institute for Securities & Investment (CISI) to enhance the professional skills of its employees.
This collaboration aims to equip SIB staff with the knowledge and tools necessary to provide superior financial guidance and tailor products and services to meet the unique needs of their diverse clientele, including both retail and corporate sectors, they said in a statement.
They added the partnership also includes…
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Source: https://www.standardmedia.co.ke/health/amp/business/article/2001493888/sib-partners-with-cisi-to-elevate-professional-standards-and-enhance-financial-advisory-skills-among-staff

South Indian Bank zooms over 7% on board nod to ₹1,151 crore rights issue

SummarySouth Indian Bank’s rights issue will open on March 6 and close on March 20. The record date for the bank’s rights issue has been set as Tuesday, February 27South Indian Bank’s Board of Directors at the meeting held on February 21, 2024, approved the rights issue to raise ₹1,151.01 crore, the lender said in a filing to the stock exchanges.
The bank informed the bourses that it will issue a total of 5,231,85,254 rights equity shares, each on a fully paid up basis. The right issue price has been fixed at ₹22 per share that will be fully paid up on application. The rights issue price reflects a 32% discount to the closing price on Wednesday, February 21.
As per the stock…
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Source: https://upstox.com/news/market-news/stocks/south-indian-bank-zooms-7percent-on-rights-issue/article-70345/

South Indian Bank Q2FY24 earnings: Net profit up 23.3% to ₹275 crore; NII grows 14.3%

South Indian Bank has announced its Q2FY24 financial results, posting a 23.3% increase in net profit to ₹275 crore. In comparison, the bank reported a net profit of ₹223 crore during the corresponding period last year and ₹202 crore in Q1FY24.

Eureka Forbes, NBCC, Brigade Enterprises, South Indian Bank, Grasim and more

1 / 9Eureka Forbes | Lunolux, a firm backed by private equity firm Advent International, is likely to sell up to 12% stake (2.3 crore shares) in health and hygiene products maker via block deals, sources privy to the developments told CNBC Awaaz. The floor price of the deal is set at ₹494.75 per share, with a maximum allowable discount of 3%.2 / 9NBCC | State-owned on Wednesday said it has been granted an in-principle approval by the Greater Noida Authority for the redevelopment of five projects associated with the Amrapali Group. The projects, estimated at a value of around ₹10,000 crore, include Centurian Park, Golf Homes, Leisure Park, Leisure Valley, and Dream Valley, all located…
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Source: https://www.cnbctv18.com/photos/market/stocks/stocks-to-watch-eureka-forbes-nbcc-brigade-enterprises-south-indian-bank-grasim-and-more-19105861.htm

Max Life ties up with South Indian Bank to offer life insurance solutions | Indiablooms

New Delhi: Max Life Insurance Company Ltd. on Tuesday announced its partnership with private leder South Indian Bank. Through this partnership, SIB customers will now have access to an extensive range of Max Life Insurance’s products tailored to meet their specific needs, including protection, savings and retirement solutions. South Indian Bank is a pioneer in technology-based banking, offering an array of digital products and services with 940 branches across India. The Bank recently declared a net profit of Rs. 775.09 Cr for the FY 22-23, highest ever in the history of the Bank. V. Viswanand, Deputy Managing Director, Max Life said, “Max Life is sharply focused on growing its…
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Source: https://www.indiablooms.com/finance-details/18837/max-life-ties-up-with-south-indian-bank-to-offer-life-insurance-solutions.html

Ashok Leyland tie-up with South Indian Bank for Dealer Financing – Express Mobility News

Ashok Leyland Limited has signed a Memorandum of Understanding with South Indian Bank for financing dealers under the Bank’s dealer finance program. Under this partnership, the Bank will provide competitive dealer finance options to the dealers of Ashok Leyland Limited.

Speaking on the partnership, Gopal Mahadevan, Director and Chief Financial Officer, Ashok Leyland Limited said, “We are pleased to partner with South Indian Bank. This alliance will offer appropriate inventory financing solutions to our network of dealers. We, Ashok Leyland and South Indian Bank, are committed to provide exceptional customer experiences.”

Speaking on the alliance, Biji S S, Senior General…
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Source: https://www.financialexpress.com/business/express-mobility/ashok-leyland-tie-up-with-south-indian-bank-for-dealer-financing/3464464/lite/

RBL Bank appoints ex-South Indian Bk MD Murali Ramakrishnan as independent director

Private sector lender RBL Bank on Thursday announced the appointment of banking industry veteran Murali Ramakrishnan as an independent director on its board. Ramakrishnan, who retired as the managing director and chief executive of South Indian Bank till 2023, has been appointed for four years starting from Thursday, a statement said. He has been associated with the banking industry for 37 years, which also includes two decades at ICICI Bank, as per the statement. During his career, he has handled various facets of banking including retail, small and medium enterprise, corporate, project finance, international business, risk, policy in both domestic and international markets.(You can now…
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Source: https://m.economictimes.com/industry/banking/finance/rbl-bank-appoints-ex-south-indian-bk-md-as-independent-director/amp_articleshow/109225653.cms