South Indian Bank Launches ‘Women Like You’ on Women’s Day

Bengaluru: South Indian Bank celebrated International Women’s Day by launching ‘Women Like You’, a special coffee table book chronicling the inspirational journey of 52 remarkable women from diverse fields. Ms. Lakshmi Ramakrishna Srinivas, Director, South Indian Bank, unveiled the book at a grand event in Bengaluru in the presence of distinguished guests, industry leaders and women customers.

South Indian Bank is happy to launch Women Like You on International Women’s Day. This unique coffee table book showcases inspirational stories of ordinary women who have overcome challenges with strength and resilience, ultimately achieving lasting success. Much like the evening’s celebration, the book honours women achievers who have broken barriers and paved their own paths to success. Their journeys serve as a testament to the fact that behind every successful woman lies a story worth reading and emulating.

It was an inspirational evening at Radisson, Bangalore headlined by international para-athlete, and Padma Shri and Arjuna awardee Dr. Malathi Holla. She shared her extraordinary journey in a session titled “Wings to Fly – An Inspiring Journey.” Subsequently, the versatile sports and celebrity anchor Madhu Mailankody moderated a panel discussion on “The Art of Balance”. The panel brought together many women achievers to discuss strategies for achieving personal and professional fulfilment.

The panellists included:

  • Sreedevi Ragavan – Founder, Tattvamassi & Board of Governors, IIM Kozhikode
  • Rasika Iyer – Co-founder & CMO, Tata Soulfull
  • Priya Sunder – Co-founder & Director, Peak Alpha Investments
  • Simi Sabhaney – Chief Growth Officer, Dentsu India

The celebration concluded with a mesmerising performance by Saxophone Subbalaxmi, the first female saxophonist to hold a world record for playing the instrument for the longest duration.

The evening reaffirmed the bank’s ethos to empower women by recognising their achievements while strengthening its engagement with customers and the community.

South Indian Bank wins 5 awards at the 20th Annual IBA Technology Awards 2024

Mumbai, 12 February 2025: South Indian Bank (SIB), well known for its novel contributions in banking technology, was recognised at the 20th edition of the Annual Banking Technology Awards 2024. The awards reflect SIB’s commitment to delivering innovative and customer-centric digital solutions.

The Annual Banking Technology Awards 2024, were part of the Annual Banking Technology Conference, Expo & Citations, organised by the Indian Banks’ Association (IBA). The awards recognise organisations that have brought in transformational changes in their businesses by adopting modern digital solutions. At a glittering ceremony on January 24 in Mumbai, SIB was declared the winner in the category of ‘Best Tech Talent & Organization’. Additionally, SIB received a special mention in the categories of ‘Best Digital Sales, Payments & Engagement’, ‘Best IT Risk Management’ and ‘Best Fintech, & DPI Adoption’. Moreover, the Bank was adjudged runners-up in the ‘Best Financial Inclusion’ category.

Mr. P R Seshadri, MD & CEO, South Indian Bank, expressed joy at the achievement, “We are honoured to receive these prestigious recognitions from the IBA yet again. These awards underscore our commitment to leveraging technology to enhance customer experience, drive financial inclusion, and ensure secure digital transactions. The awards acknowledge our efforts toward nurturing talent and building a strong tech team. It encourages us to continue our drive of continuous innovation, uncovering novel banking solutions for all our stakeholders, while also affirming our position as a forward-thinking financial institution.”

South Indian Bank Q3 Profit Hits Rs. 342 Cr

South Indian Bank had declared highest ever quarterly net profit of Rs. 341.87 Cr for Q3 FY 2024-25  registering a growth of 11.96% compared to Rs. 305.36 Cr in Q3 FY 2023-24. 

Key Highlights 

  •  Operating profit for the quarter increased by 9.39% from Rs. 483.45 Cr in Q3 FY 24 to Rs. 528.84  Cr in Q3 FY 25 
  •  Net profit of the Bank for quarter is up by 11.96% from Rs. 305.36 Cr in Q3 FY 24 to Rs. 341.87  Cr in Q3 FY 25 
  •  Gross NPA came down by 44 bps from 4.74% to 4.30% on Y-o-Y basis 
  •  Net NPA dropped by 36 bps from 1.61% to 1.25% on Y-o-Y basis 
  •  Net interest income went up from Rs. 819.03 Crore to Rs. 869.26 Crore, registering a growth of  6.13% on Y-o-Y basis 
  •  Return on Assets increased by 5 bps from 1.07% to 1.12% Y-o-Y basis 
  •  PCR excl. write off increased by 465 bps from 67.08% to 71.73% Y-o-Y basis 
  •  PCR including write off increased by 310 bps from 77.97% to 81.07% Y-o-Y basis 

o Deposits 

  •  Retail Deposit grew by Rs. 7,332 Crore from Rs. 95,088 Crore to Rs. 1,02,420 Crore,  showing an increase of 7.71% on Y-o-Y basis 
  •  NRI Deposit grew by Rs. 1,896 Crore from Rs. 29,236 Crore to Rs. 31,132 Crore, showing an  increase of 6.49% on Y-o-Y basis 
  •  CASA grew by 4.13% on Y-o-Y basis with growth in Savings Bank by 3.37% and Current  Account by 7.73% respectively  

 Advances  

  •  Gross advances grew by Rs. 9,280 Crore from Rs. 77,686 Crore to Rs. 86,966 Crore, showing  an increase of 11.95% on Y-o-Y basis
  •  Corporate Segment went up by Rs. 5,064  

Crore from Rs. 29,892 Crore to Rs. 34,956  

Crore, showing an increase of 16.94% on Y 

o-Y basis 

  •  Share of A and above rated accounts in large  

corporate segment grew from 96% to 99.6% on Y-o-Y basis 

  •  Personal Loan book grew by Rs. 63 Crore from Rs. 2,186 Crore to Rs. 2,249 Crore, showing an increase of 2.88% on Y-o-Y basis 
  •  Gold Loan portfolio went up by Rs. 1,597 Crore from Rs. 15,369 Crore to Rs.16,966 Crore,  showing an increase of 10.39 % on Y-o-Y basis 
  •  Housing Loan grew by Rs. 3,195 crore from Rs. 5,000 Crore to Rs. 8,195 Crore registering a  growth of 63.9% 
  •  Vehicle Loan grew by 24.71% Y-o-Y from Rs. 1,554 Crore to Rs. 1,938 Crore 

Y-o-Y growth  

 Rs. in Crore

Quarter Ended  Quarter Ended
31-12-2024  31-12-2023  Growth  %
Gross Advance 86,966  77,686  9,280  11.95%
Retail Deposits 1,02,420  95,088  7,332  7.71%
NRI Deposit 31,132  29,236  1,896  6.49%
Current Deposits 5,927  5,502  425  7.73%
Savings Deposits 26,903  26,027  876  3.37%
CASA 32,830  31,529  1,301  4.13%
CASA %  31.15%  31.80%  -65 bps
Gross NPA %  4.30%  4.74%  -44 bps
Net NPA %  1.25%  1.61%  -36 bps
Net Interest Income 869.26  819.03  50.23  6.13%
Operating Profit 528.84  483.45  45  9.39%
Provisions excl. tax 66.04  48.55  17  36.02%
Profit before tax 462.80  434.90  28  6.42%
Net Profit after tax 341.87  305.36  37  11.96%

Mr. P R Seshadri, MD & CEO of the Bank, while  

announcing the results, stated that the strategy  

adopted by the Bank continues to enable the business  

performance. During the period, Bank registered  

growth in all the desired segments with a focus on  

quality asset across all verticals Corporate, Housing loan, Auto Loan, Personal Loan, Gold Loan etc. 

He also stated that, in line with the strategic intent of the Bank viz, “Profitability through quality credit  growth”, the Bank could on board fresh advances with low risk profile. 

Capital adequacy of the Bank stood at 18.00% in December 2024 compared to 15.60% in December  2023.