01st Dec 16 South Indian Bank reduces its MCLR up to 30 basis points
South Indian Bank has reduced its overnight and one month marginal cost of lending rate by 30 basis points to 9 percent and 9.05 percent respectively. The bank has reduced its six month lending rate by 5 basis points to 9.45 percent from 9.50 percent earlier. Revised rates are effective from 1st December, 2016.
12th Jul 16 South Indian Bank reports 46% rise in Q1 net profit
South Indian Bank has reported 46 per cent rise in its net profit at Rs 95.06 crore for first quarter ended June 30, 2016. Total income of the bank has increased by 9.47% at Rs 1620.67 crore. Growth was driven by increased lending to the agriculture, small and medium enterprise (SME), housing and auto sectors, which registered substantial growth year on year. Agriculture and SME advances rose 22 per cent, while home and auto loan portfolios increased by 19 per cent and 28 per cent, respectively.
28th Jan 16 South Indian Bank Q3FY16 net profit up by 16 per cent
SIB net profit for the quarter December 2015 stood at Rs. 101 Cr due to their refocus on business strategies and now the bank has been focusing on various retail sectors for asset growth
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