2017-08-22 : South Indian Bank announces reduction in MCLR rates
South Indian Bank has slashed its marginal cost based lending rate (MCLR). For overnight, one month and three month maturities, the rate has been revised to 7.90 per cent, 8 per cent and 8.15 per cent. The new MCLR rate for six month and one year is 8.45 per cent and 9 per cent respectively. The new MCLR rates are effective from 20th August, 2017.
2017-07-12 :South Indian Bank reports net profit at Rs. 101 crore
South Indian Bank (SIB) has reported a significant growth in its net profit at Rs. 101 crore during the first quarter of FY18 as against Rs. 95 crore during the corresponding period of the previous year. The profitability is due to the rise in its retail lending portfolio and CASA deposits besides maintaining the steady growth in the loan disbursements including personal loans, home loans and business loans.
2017-07-07 :South Indian Bank partners with PFG Forex
In a bid to offer remittance facility to benefit the Indian expatriates from Australia, South Indian Bank (SIB) has tied up with PFG Forex. Under this arrangement, Non Resident Indians (NRIs) will be able to enjoy the fast remittance services using the bank’s (SIB) express facility by reaching out to any PGF forex outlets across Australia for remittances to India.
2017-01-25 :Kotak Mahindra sells its 2.1 percent stake in South Indian Bank to Lavender Investments
Kotak Mahindra International offloaded its 2.1 percent stake in South Indian Bank to Lavender Investments in an open market transaction. The shares were purchased by Lavender Investment Limited for Rs. 60 crore.
2017-01-20 :South Indian Bank to focus on growth in its retail and MSME business
South Indian Bank in its investor presentation has stated that the bank will work for enhancement of its retail and MSME business through its centralised marketing and processing centres. The bank intends to increase the volume of fresh loan disbursements across various loan types such as business loan, home loan and personal loan.
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