South Indian Bank Ltd Share Price – NSE  /  BSE

Banks, Small Cap

Present CFO Chithra H, senior general manager shall handover charge of the CFO position and will take charge as chief compliance officer (CCO).

Vinod Francis, General Manager, aged 45 years is a Chartered Accountant by profession. He holds a Bachelor’s Degree in commerce and is a Certified Associate of the Indian Institute of Bankers. He joined the Bank on January, 2006.

He has an experience of over 18 years in the bank in various functional departments like credit underwriting, corporate finance department. He has headed SME branches and corporate branch of the bank. Further he has functioned as Head – SME / mid corporate credit processing centre and presently he is working as deputy CFO of the bank since June, 2021.

South Indian Bank is a leading Kerala-based private sector bank with a nationwide presence.

The bank’s standalone net profit stood at Rs 305.36 crore in Q3 FY24, steeply higher than Rs 102.75 crore posted in Q3 FY23. Total income of the bank increased 41.44% YoY to Rs 2,636.50 crore during the quarter.

The scrip rose 0.07% to ends at Rs 29.51 on Friday, 5 April 2024.

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The bank's gross advances rose 3.41% last quarter over Rs 80,337 crore as of 31 March 2024.

The bank's total deposits stood at Rs 1,01,929 crore as of 31 March 2024, recording a growth 11.21% year on year (YoY) and 2.79% quarter on quarter (QoQ).

CASA stood at Rs 32,654 crore as of 31 March 2024, up 8.03% YoY and rose 3.56% QoQ. CASA ratio declined 94 bps to 32.04% in Q4 FY24 from 32.98% in Q4 FY23 and 31.80% in Q3 FY24.

South Indian Bank is a leading Kerala-based private sector bank with a nationwide presence.

The bank’s standalone net profit stood at Rs 305.36 crore in Q3 FY24, steeply higher than Rs 102.75 crore posted in Q3 FY23. Total income of the bank increased 41.44% YoY to Rs 2,636.50 crore during the quarter.

The scrip slipped 3.72% to currently trade at Rs 28.24 on the BSE.

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The company will issue 5,231,85,254 shares at Rs 22 per equity share on fully paid up basis (including a premium of Rs 21 per rights equity share and Rs 1 face value) for an amount aggregating to Rs 1,151.01 crore.

The right issue will be open on Wednesday, 6 March 2024 and it will close on Wednesday, 20 March 2024.

The company will allot 1 right equity shares for every 4 equity share held by eligible equity shareholders of the company, as on the record date. The record date for the same is fixed at 27 February 2024.

The outstanding equity share prior to right issue are 209,27,41,018 equity shares and the post rights issue would be 261,59,26,272 equity shares assuming full subscription.

South Indian Bank has a network of 940 branches in India and provides retail and corporate banking, para banking activities such as debit card, third party financial product distribution, in addition to Treasury and Foreign Exchange Business.

The bank reported consolidated net profit of Rs 305.38 crore in Q3 FY24 steeply higher than Rs 103.01 crore recorded in Q3 FY23. Total income jumped 41.4% year on year to Rs 2,636.23 crore in the quarter ended 31 December 2023.

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South Indian Bank will hold a meeting of the Board of Directors of the Company on 21 February 2024.

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