Page 2 - South Indian Bank

South Indian Bank to acquire 6.67% stake in IBBIC Pvt Ltd for Rs 5 lakh

The South Indian Bank Limited will hold 6.67 per cent shareholding in IBBIC through acquisition of 50,000 equity shares with face value Rs 10 each.

Balancing tradition and new systems key for old, traditional banks: Experts

These banks need to understand their limitations and balance tradition with new age banking systems, they say

PE investors, foreign banks taking majority stakes may rescue old pvt banks

Several of these banks were placed under the Prompt Corrective Action (PCA) framework of additional regulator scrutiny but this does not seem to have stemmed the rot

South Indian Bank gets RBI's nod to set up non-financial subsidiary

Private sector lender South Indian Bank (SIB) on Wednesday said the RBI has given an in-principle approval for setting up a wholly owned non-financial subsidiary.

MARKET WRAP: Indices snap 5-day rally, Sensex slips 345 pts; IT, autos fall

All that happened in the markets today

Market Ahead, July 6: Top factors that could guide markets this week

At 7:10 AM, SGX Nifty was trading more than 50 points higher at around 10,630 levels, indicating a higher opening for the Sensex and Nifty today

South Indian Bank posts Q4 loss of Rs 190 cr, income grows to Rs 2,342 cr

The bank made a one time provisioning of Rs 255 crore on some large value non performing assets (NPA) it sold to an asset reconstruction company in 2017

South Indian Bank announces rise of 8% in Q3 net profit at Rs 90.54 cr

The provision coverage ratio of the bank has improved to 50.37% from 41.17% a year ago

South Indian Bank needs Rs 1,000 cr tier-I capital in next 15 months

India Ratings and Research (Ind-Ra) has revised outlook for the lender from "stable" to "negative" and affirmed its long-term issuer rating at 'A+'

South Indian Bank announces acquisition of 150,000 shares in KIFML

The bank will hold 8.47 per cent shares post issuance

South Indian Bank seeks approval from shareholders for share issuance

People in the know said the bank expects the fund raising to support its plan to grow its advances by 20%

South Indian Bank Q3 profit declines 27% to Rs 84 crore as bad loans rise

The bank had recorded a net profit of Rs 115 crore in the corresponding period of the previous financial year

South Indian Bank tanks 18% on weak Q1 results

The stock tanked 18% to Rs 18.45, also its 52-week low on the BSE, after the private sector lender reported a sharp 77% year on year decline in its net profit at Rs 230 million in June quarter.

South Indian Bank Q1 net profit declines to Rs 230.4 mn from Rs 1 bn

Kerala-based South Indian Bank has declared a net profit of Rs 23.04 crores for the first quarter of the financial year 2018-19 as against Rs 101.47 crores during the corresponding period last year. In a press release here, the bank said the reason for the decline in profit was the reduction in the Treasury trading profit by Rs 73 crores and incremental MTM (mark to market) provision in the Treasury Book by Rs 41 crore owing to adverse market conditions, besides incremental one-time employee cost of Rs 33 crore because of increase in gratuity ceiling and wage revision. "But for these, the net profit would have been Rs 119 crores for the first quarter," the release said. Low-cost deposit grew by 4 per cent, it said. The non-resident CASA (the ratio of deposits in current and saving accounts to total deposits) saw a growth of 5 per cent on a quarter-to-quarter basis, it said. The bank was continuing its focus on retail and MSME (Micro, Small & Medium Enterprises) ...

South Indian Bank plans raising Rs 5.2 billion via securities

The bank's board will meet on July 11 and take up its fund raising agenda for the meeting

South Indian Bank to raise Rs 7 bn via QIP to fund its 20% growth target

Kerala-based South Indian Bank (SIB) is planning to raise around Rs 7 billion through Qualified Institutional Placement (QIP) to support it's 20 per cent growth target.Bank's Managing Director & CEO V G Mathew told Business Standard that the Bank may look at diluting around 10-12 per cent to raise around Rs 6-7 billion through the QIP route. "We will be looking at raising capital this year itself to support our growth," said Mathew.The Bank, whose base is currently at around Rs 550 billion is confident on growing at around 20 per cent, while its desire is to grow at around 25 per cent.The Bank plans to raise the money through equity placement (200 million shares) to Qualified Institutional Buyers (QIB). It may be noted, currently around 40 per cent of the capital base is held by various investors and of this around 30 per cent are held by foreign investors including Lavender Investments, First Carlyle Venture, IVA International Fund, Acacia PartnersAs part of its growth plan, the .

South Indian Bank to raise Rs 500 crore to augment business capital

The bank's scrip closed 0.71% up at Rs 21.25 on BSE

South Indian Bank net profit up 45.6%

NPA rises compared to same quarter of previous year

South Indian Bank to raise Rs 500-crore from bonds

However, it is subject to approval of RBI, shareholders and other regulatory authorities

South Indian Bank announces tie up with National Australian Bank

Deal enables faster, hassle-free online inward remittances; NAB to be its main banking correspondent in Australia