Category: South Indian Bank

RBI releases 2023 list of Domestic Systemically Important BanksDomestic Systemically Important Banks (D-SIBs) continue to include SBI, HDFC Bank, and ICICI Bank. While ICICI Bank remains in the same bucketing system as last year, SBI and HDFC Bank move to higher buckets-SBI shifts from bucket 3 to bucket 4, and HDFC Bank shifts from bucket 1 to bucket 2.SBI and HDFC Bank will face increased D-SIB buffer obligations as a result of the bucket increase from April 1, 2025. The capital conservation buffer will be supplemented by an additional Common Equity Tier 1 (CET1) requirement.On July 22, 2014, the Reserve Bank announced the Framework for Dealing with Domestic Systemically Important…
Read More…

Source: https://studycafe.in/rbi-releases-2023-list-of-domestic-systemically-important-banks-279639.html

Key Highlights
 Operating profit for the quarter increased by 137.87% from Rs. 203.24 Cr in Q3 FY 23 to Rs. 483.45 Cr in Q3 FY 24

Net profit of the Bank for quarter increased by 197.19% from Rs. 102.75 Cr in Q3 FY 23 to Rs. 305.36 Cr in Q3 FY 24 

GNPA came down by 74 bps from 5.48% to 4.74% on Y-o-Y basis
NNPA came down by 65 bps from 2.26% to 1.61% on Y-o-Y basis
Return on Equity for the quarter improved by 996 bps from 6.42% to 16.38% Y-o-Y basis
Return on Assets for the quarter increased by 68 bps from 0.39% to 1.07% Y-o-Y basis
Provision Coverage Ratio (PCR) improved by 346 bps from 74.51% in Q3 FY 23 to 77.97% in Q3…
Read More…

Source: https://smestreet.in/limelight/south-indian-bank-achieves-rs-78252-crore-net-profit-in-9-months-2392356

DIG (SIB) B Sumathi advised officials to take preliminary measures to prevent any untoward incidents from happening in the upcoming Parliamentary elections.

Updated On – 27 January 2024, 08:18 PM

DIG (SIB) B Sumathi held a review meeting with the district police officers at Sarapaka in Kothagudem district.
…
Read More…

Source: https://telanganatoday.com/dig-sib-asks-officials-to-take-steps-for-smooth-conduct-of-parliament-polls

Shares of South Indian Bank (SIB) hit a six-year high of Rs 31.93 as they soared 13 per cent on the BSE in Thursday’s intraday trade amid heavy volumes. The surt came after the lender reported a strong set of earnings for the December quarter of FY24 (Q3FY24) marked by improvement in assets quality. The stock of the private sector lender was trading at its highest level since January 2018. It had hit a record high of Rs 34.75 on January 9, 2018. At 02:23 PM, SIB was quoting 8 per cent higher at Rs 30.54 as compared to 0.55 per cent decline in the S&P BSE Sensex at 71,110. Average trading volumes on the counter jumped more than two-fold today with a combined 262 million equity shares of…
Read More…

Source: https://www.business-standard.com/amp/markets/news/south-indian-bank-soars-13-hits-6-year-high-on-healthy-q3-results-124011800341_1.html

South Indian Bank today unveiled its new branch in Chinchwad, Pune at Empire Square with the aim to expand its reach and cater to the growing demand for banking services in the area. The launch is in-line with the Bank’s strategy to expand its operations and attract a larger customer base within the region and provide enhanced banking services.The new branch also houses an ATM and will cater to the financial and banking needs of the business and working class, residing in and around Pune’s suburbs. Chinchwad has emerged to be a perfect blend of residential, retail, commercial, and industrial complexes, prudently warranting the need to set up a dedicated branch office of…
Read More…

Source: https://www.equitybulls.com/category.php?id=337744

Sharjah24: Sharjah Islamic Bank (SIB) announced the signing of a distinctive partnership agreement with “Noqodi”, a payments gateway and leading provider of financial services and a pioneer in financial technology owned by “Emaratech” Group, with the aim of enhancing the financial services and digital and electronic payment benefits provided to the business sector of the SIB’s corporate and individual customers.
The agreement was signed at the SIB’s headquarters by Hakam Abu Zarour, COO of Sharjah Islamic Bank, and Zahi Kallab, General Manager of Noqodi, in the presence of a group of employees from both parties.Access to additional digital payment solutions for fees of a wide spectrum…
Read More…

Source: https://www.sharjah24.ae/en/Articles/2024/01/28/SIB-enables-digital-payments-via-Noqodi-platform

South Indian Bank Share Price Today : On the last day, the South Indian Bank opened at ₹31 and closed at ₹30.79. The stock had a high of ₹35.22 and a low of ₹30.8. The market cap of the bank is ₹7280.65 crore. The 52-week high for the stock is ₹31.93 and the 52-week low is ₹13.79. The BSE volume for the stock was 32,757,671 shares.Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.

25 Jan 2024, 06:35 PM IST
South Indian Bank share price NSE Live :South Indian Bank closed today at ₹33.8, down -2.85% from yesterday’s ₹34.79
The South Indian Bank…
Read More…

Source: https://www.livemint.com/market/live-blog/south-indian-bank-share-price-live-blog-for-25-jan-2024/amp-11706151235726.html

Bajaj Allianz Life Insurance, one of India’s leading private life insurers, and South Indian Bank, a leading Indian private sector bank, announced their strategic partnership. The two signed a corporate agency arrangement in Kochi. Through this strategic partnership South Indian Bank’s customers’ can now fulfil their long-term life goals by investing in Bajaj Allianz Life Insurance’s value-packed products across the bank’s 942 branches in the country.Mr. Sanchay Kumar Sinha, CGM & Country Head- Retail Banking Department, South Indian Bank signed the agreement with Bajaj Allianz Life Insurance.Speaking on the partnership, Mr. Dheeraj Sehgal, Chief Distribution Officer -…
Read More…

Source: https://www.equitybulls.com/category.php?id=338414

Bajaj Allianz Life Insurance and South Indian Bank announced their strategic partnership. The two signed a corporate agency arrangement in Kochi. Through this strategic partnership South Indian Bank’s customers’ can now fulfil their long-term life goals by investing in Bajaj Allianz Life Insurance’s value-packed products across the bank’s 942 branches in the country.
Sanchay Kumar Sinha, CGM & Country Head- Retail Banking Department, South Indian Bank signed the agreement with Bajaj Allianz Life Insurance.
Speaking on the partnership, Dheeraj Sehgal, Chief Distribution Officer – Institutional Business, Bajaj Allianz Life Insurance, said, “Bajaj Allianz Life and South…
Read More…

Source: https://mediabrief.com/bajaj-allianz-life-insurance-and-south-indian-bank-enters-into-strategic-partnership/

South Indian Bank Records Strong Q2 Performance with 23.2% Growth, Achieving a Net Profit of Rs 275 Crore – India Education | Latest Education News | Global Educational News | Recent Educational News

HomeNational NewsSouth Indian Bank Records Strong Q2 Performance with 23.2% Growth, Achieving a Net Profit of Rs 275 Crore

Read More…

Source: https://indiaeducationdiary.in/south-indian-bank-records-strong-q2-performance-with-23-2-growth-achieving-a-net-profit-of-rs-275-crore/