South Indian Bank

South Indian Bank Q1 Net up 10.28% at Rs 126 crore

South-Indian-BankKochi: Kerala-headquartered South Indian Bank has recorded the highest first quarter profit of Rs 126.65 crore profit in the first quarter ended June 30, registering a 10.28 percent growth on a year-on-year basis.

Announcing the first quarter results here, V A Joseph, Managing Director and CEO, said the bank's strategy of focusing on core deposits has yielded excellent results as the core deposits and CASA deposits registered impressive growth of 21.05 percent and 14.42 percent, respectively.

Total business increased by Rs 6,058 crore from Rs 75,123 crore to Rs 81,181 crore, registering a growth of 8.06 percent.

JK Lakshmi Cement, Force Motors Declare Strong Q2 Results

JK Lakshmi Cement, Force Motors Declare Strong Q2 ResultsJK Lakshmi Cement reported strong performance during second quarter of current financial year. The stock was trading 5 per cent higher and touched 52-week high in today's trade. The company reported Q2 net profit at Rs 50 crore compared to Rs 6.5 crore during same quarter last year. Sales were higher at Rs 491 crore compared to Rs 354 crore. ACC and UltraTechCement were marginally higher while Ambuja Cements was trading lower.

South Indian Bank reports 36% rise in net profit

South Indian Bank reports 36% rise in net profitThrissur, Kerala-based South Indian Bank has reported an increase of 36 per cent in net profits to Rs 102 crore in the quarter till December 2011.

The private sector bank had recorded a net profit of Rs 75 crore in the same period of 2010. Its advances rose 7 per cent to Rs 25,050 crore in the October-December 2011 period while deposits increased 2 per cent to Rs 33,834 crore in the quarter.

South Indian Bank posts Rs 58 crore profit in Q1

South-Indian-BankThrissur-based South Indian Bank (SIB) has declared its first quarter financial results for the fiscal year 2010-11.

The bank has registered a net profit of Rs 58.44 crore for the quarter that ended in 30th June, 2010. This net profit figure was Rs 60.11 crore in the corresponding quarter in the last fiscal. This has been informed by SIB in a filing at the Bombay Stock Exchange.  

There has been a marginal decline in the net profit figure for the bank in the quarter under review against its like period in previous fiscal.

South Indian Bank recording profit for Q1

South Indian Bank recording profit for Q1The Thrissur-based South Indian Bank has placed a net profit of Rs 58.44 crore during the first quarter of FY'11, contrasted to Rs 60.11 crore for the consequent quarter of the preceding year.

The bank received a total income of Rs 581.78 crore throughout the quarter under assessed against Rs 521.24 crore for the parallel quarter of the preceding year, converting into a development of 11.61 per cent, a bank publish expressed here today.

South Indian Bank Joins Hands With US bank

South Indian Bank Joins Hands With US bankKerala-based South Indian Bank has joined hands with Bank of New York Mellon to facilitate remittances from the US to India.

Mr. V. A. Joseph, the bank's managing director, stated that Malayalam superstar Mammootty, the bank's international brand ambassador, would unveil this facility at Kochi on Friday.

The South Indian Bank owns 580 arms spread across 26 Indian states.

On May 26, South Indian Bank announced that it has decided to split its stocks 1:10 to make it inexpensive to more individuals and expand its retail shareholders base.

South Indian Bank’s Q3 profit rises 16%

South Indian Bank (SIB) has reported a growth of 15.8 per cent in net profit to Rs 62.46 crore in the third quarter of the current financial year against Rs 54.20 crore in the corresponding quarter last year.

SIB’s Profit before tax rose from Rs 82.37 crore to Rs 98.74 crore. Total income for the bank increased to Rs 530.91 crore. This included Rs 487.79 crore as interest income and Rs 43.12 crore as other income against Rs 487.38 recorded in the same quarter last year.

Total expenditure too grew to Rs 412.71 crore against Rs 387.19 crore. Non-Performing assets of the bank remained almost flat at 0.39 per cent as on December 31, 2009 like last year.

SIB to set up ATMs at IOC pumps

South Indian Bank South Indian Bank (SIB) has informed that inked a Memorandum of Understanding (MoU) with Indian Oil Corporation (IOC).

The sources informed that through MoU, the bank wants to establish ATMs at IOC's retail filling stations across India.

As per the terms of the agreement, signed at Kochi, SIB would initially install ATMs at 17 retail outlets of IOC.

Adding 23 more branches to its nationwide network, the total number of CSB branches of SIB would touch 575 by the year end.

As per reports of media, the bank is having a total of 307 online ATMs.

South Indian Bank Declares Dividend of 30%

South Indian BankDuring the 81st Annual General Meeting in Thrissur, the board of directors of South Indian Bank (SIB) recommended 30 per cent dividend for its shareholders for the year 2008-09, which saw the Bank registering the highest -ever net profit, in its 80 year history, of Rs 194.75 crore recording a growth of 28.44% over the Rs 151.62 crore net profit during the corresponding period of the last year (2007-08).

In his annual address, Bank Chairman G A Shenai told the stockholders that the banking institution had entered the Top 1000 World Bank Ranking in the 39th Edition of The Banker, a publication of the Financial Times, London.

South Indian Bank successfully raises Rs 200 crore

keralaKerala-based South Indian Bank has notified that it has successfully raised Rs 200 crore from bonds to meet its near term goals.

The raised amount will be used by the bank to meet capital requirements. The lender raised Rs 200 crore by issuing unsecured redeemable non-convertible subordinated Tier-II bonds through private placement route.

The bonds have maturity period of 128 months and offer coupon rate of 9.75% p. a., payable semi-annually. The bonds would be allotted on August 20, 2009.

Credit rating agency CARE and FITCH has given A+ rating to bonds. The issue opened for subscription on August 03, 2009.

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