South Indian Bank shares zoom 159% from 52-week low; time to buy, sell or hold? Business Today
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Category: South Indian Bank
South Indian Bank Partners with actyv.ai to Offer GST-Based Loans and Wins Digital CX Awards
Bengaluru (Karnataka) [India], June 9: actyv.ai, a leading AI-powered enterprise SaaS platform with embedded B2B BNPL and insurance offerings, has congratulated its partner South Indian Bank for winning the prestigious Digital CX Awards in Singapore recently. The Awards, instituted by Singapore-based ‘The Digital Banker’, recognize excellence in providing exceptional digital experiences to customers. The bank won the award under the SME loans category for its remarkable performance in providing GST-based loans through a Technology platform.
The South Indian Bank is a major private sector bank in India with its headquarters located in Thrissur, Kerala. The bank has an extensive…
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P. R. Seshadri appointed new MD & CEO of South Indian Bank
The Reserve Bank of India has approved the appointment of P. R. Seshadri as the Managing Director and CEO of the Thrissur based South Indian Bank. The appointment will be for a period of three years with effect from October 1. A meeting of the Board of Directors of the Bank will be convened in due course inter-alia to approve the appointment of Seshadri. The approval of the shareholders shall be obtained thereafter as per the applicable provisions of the Companies Act, 2013 and SEBI listing regulations, a release said.Seshadri is an accomplished banker with experiences spanning multiple businesses, functional lines and geographies. He has significant experiences in enterprise level…
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Bank CASA continues to remain under pressure
Meanwhile, the credit book of the lenders recorded double-digit growth in the quarter ended December 31, 2023.
The current account savings account (CASA) ratio of banks continued to remain under pressure in the third quarter ended December 2023 as customers shifted funds from CASA to term deposits.
According to provisional data the CASA ratio of South Indian Bank dropped to 31.79 per cent from 33.83 per cent in the same quarter of financial year 2022-23. Federal Bank printed a decline to 30.63 per cent from 34.24 per cent. At the same time, public sector lender Bank of Maharashtra’s CASA fell to 50.19 per cent from 52.50 per cent a year ago.
In comparison, the CASA ratio of…
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Mahindra partners with South Indian Bank to provide finance solutions
– Will provide finance solutions to Mahindra dealers- Recently surpassed the 9 lakh production units milestone for the Scorpio South Indian Bank signed a Memorandum of Understanding (MOU) with Mahindra on Wednesday for providing the latter’s dealers with financing solutions. Under this alliance, the bank will provide Mahindra dealers with finance solutions, thereby meeting their vehicle inventory funding requirements. Official statement on the partnershipSpeaking on the partnership, Baneswar Banerjee, Vice President, Sales, Automotive Division, Mahindra & Mahindra Ltd., said, “Our association with South Indian Bank will provide our dealer network with suitable inventory financing…
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Source: https://www.carwale.com/news/mahindra-partners-with-south-indian-bank-to-provide-finance-solutions/
94-Year-Old Private Bank Revises Fixed Deposit (FD) Rates Effective From Today – Goodreturns
94-Year-Old Private Bank Revises Fixed Deposit (FD) Rates Effective From Today Goodreturns
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South Indian Bank share price rallies after double-digit growth in Q1 gross advances; should you buy?
South Indian Bank shares rally on Wednesday after it posted healthy growth in Q1 gross advances and deposits. The shares jumped more than 3.5% on BSE. Following the Q1 update, brokerage ICICI Direct has recommended buying this Kerala-based private sector bank with a potential upside of over 13% going forward.
At the time of writing, South Indian Bank’s shares traded at an intraday high of ₹20.44 apiece, up by 3.55% on BSE.
SIB introduces ‘Zoud’ to government employees
Sharjah 24: Hassan Al Balghouni, Head of Corporate Communications at Sharjah Islamic Bank (SIB), revealed that the bank has launched the “Zoud” package, which includes exclusive offers, privileges and facilities that will allow Sharjah government employees to access real estate financing, personal financing, car financing, and different credit cards.
Hassan Al Balghouni stated that SIB, in cooperation with the Human Resources Department, organised an introductory meeting with Sharjah government employees to introduce the features of the “Zoud” package, at the Cultural Centre, in Al Dhaid City.Speaking exclusively to “Sharjah 24,” Al Balghouni explained that “Zoud”…
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Source: https://sharjah24.ae/en/Articles/2024/01/11/Al-Balghouni-SIB-introduces-Zoud-to-government-employees
South Indian Bank launches SIB EXIM Current Account
South Indian Bank (SIB) has launched SIB EXIM Current Account specially curated for customers involved in the import and export business. The current account is available in two variants SIB EXIM Silver and SIB EXIM Gold with the required Quarterly Forex Throughput (QFT) of $15,000 and $50,000 respectively.SIB EXIM Current Account offers competitive rates in trade finance transactions, free and unlimited NEFT/RTGS transactions through digital channels, unlimited free cash withdrawals from any SIB branches, free cash deposit limit of up to 15 times of previous month AMB, free issuance of international debit card and a lot more transactional benefits to cater the needs of this…
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SIB partners with Robert (Bob) Potts to form Accelerated Insurance & Risk Management Services.
ANCASTER, ON, JANUARY 5, 2024/insPRESS/ – SIB Corp. (“SIB”) through its partnership with Accelerated Insurance, has exclusive and niche programs and offerings for the transportation sector providing solutions for the regular market as well as captive and alternative risk spaces. “I am extremely excited for the opportunity to build a business where the core philosophy and focus is based on providing value to clients. It has always been my passion to help clients become safer operators, save money, and grow their businesses. Now I can promote this vision moving forward.” Said Bob Potts, Managing Partner.
Robert brings with…
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