Category: South Indian Bank

Broker’s call: South Indian Bank

Target: ₹39CMP: ₹28.08Muted NII and lower Treasury income led to the decline in South Indian Bank’s Q4 operating profit. Lower provisions aided profitability, with a 0.98 per cent RoA (down 7bps q-o-q). Asset quality improved across segments. With stress from the legacy book recognised, the focus now shifts to profitability. We expect the bank to deliver a sustainable, 1 per cent, RoA from now. Also read:Broker’s call: Titan Co (Outperformer)Slippages were ₹290 crore (1.5 per cent of loans), lower than last quarter’s figure and better than we expected. Lower slippages and strong recoveries led to a 24 bps q-o-q decline in the GNPA ratio, which came at 4.5 per cent. Also, the…
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Source: https://www.thehindubusinessline.com/markets/brokers-call-south-indian-bank/article68145325.ece/amp/

Buy South Indian Bank; target of Rs 39: Anand Rathi

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Anand Rathi’s research report on South Indian Bank
Muted NII and lower Treasury income led to the decline in South Indian Bank’s Q4 operating profit. Lower provisions aided profitability, with a 0.98% RoA (down 7bps q/q). Asset quality improved across segments. With stress from the legacy book recognised, the focus now shifts to profitability. We expect the bank to deliver a sustainable, 1%, RoA from now.

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Outlook
We retain our Buy rating, with a 12-mth TP of…
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Source: https://www.moneycontrol.com/news/business/stocks/buy-south-indian-bank-target-of-rs-39-anand-rathi-12715510.html/amp

South Indian Bank Q4 results: Net profit dips 14% to Rs 288 crore | Company Results

Total expenditure increased to Rs 2,187 crore in the March quarter, from Rs 1,757 crore in the same period a year ago, South Indian Bank said in a regulatory filingThe private sector bank posted a net profit of Rs 333.89 crore in the January-March period of the 2022-23 fiscal year.Press Trust of India New Delhi South Indian Bank on Thursday reported a 13.88 per cent decline in March quarter net profit to Rs 287.56 crore. The private sector bank posted a net profit of Rs 333.89 crore in the January-March period of the 2022-23 fiscal year. Click here to follow our WhatsApp channel Total expenditure increased to Rs 2,187 crore in the March quarter, from Rs 1,757 crore in the same period…
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Source: https://www.business-standard.com/amp/companies/results/south-indian-bank-q4-results-net-profit-dips-14-to-rs-288-crore-124050200638_1.html

RBI Directs Federal Bank and South Indian Bank to Stop Issuing New Co-Branded Credit Cards

The Reserve Bank of India (RBI) has issued notices to Federal Bank and South Indian Bank, directing them to halt the issuance of new co-branded credit cards. The two banks informed the stock exchanges about this development. Compliance with Regulatory Guidelines South Indian Bank stated that the regulatory action is in line with the norms issued by the RBI on March 7th. The bank will not on-board any fresh customers under co-branded credit cards until it achieves full compliance with the regulatory guidelines. Existing Offerings and Services Both Federal Bank and South Indian Bank have assured that they will continue to offer credit cards to new and existing customers in the…
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Source: https://currentaffairs.adda247.com/rbi-directs-federal-bank-and-south-indian-bank-to-stop-issuing-new-co-branded-credit-cards/amp/

South Indian Bank looking to maintain deposit growth of around 11% in FY25, says CEO

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Thrissur based South Indian Bank is looking at growing deposits by 11 percent in financial year 2024-25, said P Seshadri, Managing Director and Chief Executive Officer (MD and CEO). “After reporting a 11 percent growth in deposits in the financial year 2023-24, we are not looking at aggressively growing our deposits. We are aiming at around the same 11 percent growth in FY25,” Seshadri said.
In an exclusive interaction with Moneycontrol, Seshadri also said that the bank is looking at a similar credit growth…
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Source: https://www.moneycontrol.com/news/business/south-indian-bank-looking-to-maintain-deposit-growth-of-around-11-in-fy25-says-ceo-12713888.html/amp