South Indian Bank Ltd

(SOUTHBANK)

RBI Imposes Penalty on South Indian Bank - 11 Nov, 2024

The Reserve Bank of India has imposed a penalty of Rs 59.20 lakh on South Indian Bank for non-compliance with regulations regarding interest rates and customer service. The penalty follows findings from a statutory inspection, highlighting issues with notifying customers about penal charges and placing liens on NRE accounts. The RBI clarified that the penalty is based on regulatory deficiencies and does not affect the validity of the bank's transactions.

RBI Penalizes South Indian Bank for Non-Compliance - 09 Nov, 2024

The Reserve Bank of India has imposed a penalty of Rs 59.20 lakh on South Indian Bank due to non-compliance with regulations regarding interest rates and customer service. The penalty follows a statutory inspection and is based on deficiencies in regulatory compliance.

RBI Fines South Indian Bank for Compliance Failures - 08 Nov, 2024

The Reserve Bank of India has fined South Indian Bank Rs 59.20 lakh due to non-compliance with regulations regarding interest rates on deposits and customer service. The penalty follows a supervisory evaluation revealing deficiencies in compliance and notification practices.

Geojit Recommends Accumulate Rating for South Indian Bank - 02 Nov, 2024

Geojit Financial Services has given an Accumulate rating for South Indian Bank, expecting 12% credit growth by FY26 and a target price of Rs 27. The bank's shares rose 1.43% to Rs 24.85, with a dividend yield of 1.21%. Despite recent fluctuations, the bank has shown positive returns over the past year.

Geojit Recommends Accumulate for South Indian Bank - 30 Oct, 2024

Geojit Financial Services recommends an Accumulate position on South Indian Bank, raising the target price to Rs.27. The bank shows improved asset quality, profitability, and loan growth, indicating a promising 13% return potential over the next year.

Geojit Financial Services Recommends Accumulation of South Indian Bank - 29 Oct, 2024

Geojit Financial Services recommends accumulating South Indian Bank shares with a target price of Rs 27. The bank reported strong growth in interest income, advances, and profitability, alongside improved asset quality. Despite anticipated moderation in advance growth, the long-term outlook remains optimistic.

South Indian Bank Works on Compliance for Credit Cards - 22 Oct, 2024

South Indian Bank's CEO PR Seshadri stated that addressing compliance gaps in its credit card business has taken longer than expected. The bank halted issuing co-branded credit cards and is conducting an internal audit to ensure compliance with RBI regulations. Despite the challenges, Seshadri noted no material stress in the bank's gold loan portfolio.

South Indian Bank Reports Profit and MCLR Revision - 18 Oct, 2024

South Indian Bank announced a net profit of ₹324.69 crore for Q2 FY 2024-25, an 18.15% increase. The bank aims for aggressive deposit and asset growth while revising MCLR rates effective October 20, 2024, impacting loan repayments.

South Indian Bank Reports Strong Q2 Earnings Growth - 17 Oct, 2024

In Q2 2024-25, South Indian Bank's net profit rose 18% to Rs 325 crore, driven by a 6% increase in core net interest income and improved asset quality.

South Indian Bank Reports Strong Q2 Earnings Growth - 16 Oct, 2024

South Indian Bank's Q2 results show an 18% profit increase to ₹325 crore, with total income at ₹2,804 crore. Asset quality improved, with gross NPAs at 4.40%. Following the announcement, shares surged by 5%.