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South Indian Bank

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The South Indian Bank Ltd.
TypePublic
BSE: 532218
NSE: SOUTHBANK
IndustryBanking
Financial services
Founded1929; 97 years ago (1929)
HeadquartersThrissur, Kerala, India
Key people
  • Jose Joseph Kattoor
    (Chairman)
  • P R Seshadri
    (MD & CEO)
[1][2]
ProductsCredit cards, Mutual Fund Trading, Demat account, Consumer banking, Corporate banking, Finance and Insurance, Mortgage loans, Private banking, Wealth management, Investment banking
Revenue₹11,855.99 Crores (FY2025-26) [3]
Increase ₹1,956.04 crore (US$200 million) (2026) [3]
Increase ₹1,455.14 crore (US$150 million) (2026) [3]
Total assets₹1,41,75,630 Crores (FY 2025-26) [3]
Total equity₹10664Crore (As of 25 May 2026) [4]
Number of employees
9,369 (As of 31 March 2025) [5]
SubsidiariesSIB Operations and Services Limited [6]
Capital ratio19.66% [3]
RatingCRISIL A1+ [7]
Websitewww.southindianbank.bank.in

The South Indian Bank Limited (SIB) is a major private-sector bank headquartered at Thrissur in Kerala, India in 1992. The same came into being during the Swadeshi movement.[8] It began as a private limited company and was later converted into a public limited company in 1939. The bank provides retail and corporate banking services, para banking activities, third party distribution along with Treasury and Foreign Exchange Business.[8]

As of 31 December 2024, the bank had a network of 955 banking outlets (954 branches and 1 service branch) and 1290 ATMs/CRMs (1159 ATMs and 131 CRMs) spanning 26 states and 4 union territories).[9][10]

History of SIB

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Old logo

South Indian Bank was registered in 1929 under the Companies Act.[11] It commenced business on 29 January 1929 at Round South, Thrissur.

The first branch to open outside Kerala was in Coimbatore, in 1941. It was included in the second schedule of the Reserve Bank of India and became a scheduled bank on 7 August 1946. SIB was the first scheduled bank in the private sector in Kerala to get the license under Section 22 of the Banking Regulation Act, 1949 from the RBI on 17 June 1957.

During 1963, the bank took over the assets and liabilities of Krishnavilasam Banking Company Ltd. and Ambat Bank Pvt Ltd., Chittur, Kerala.[8] The year 1964 is a major period for the bank- the bank had acquired 10 banks including Public Bank Ltd, Suburban Bank Pvt. Ltd., Vijalakshmi Bank Pvt Ltd, Chalakudy Bank Ltd, Mukkattukara Catholic Bank Ltd, Assyrian Charities Banking Company Ltd, The Catholic Syrian Christian Bank Ltd, Malabar Bank Ltd, Bharata Union Bank Ltd and Kozhuvanal Bank Ltd.

In 1990, SIB made an entry into merchant banking activities by supporting 99 issues. A currency chest activity was executed in April 1992.[8] Also in 1992, the bank opened their first NRI branch. In 1993, the bank started an Industrial Finance Branch in March, and opened an overseas branch to cater to import-export business in June.[8]

Their Initial Public Offering was made and taken to the public in the year 1998. And in 2001, Sibertech (Technology Promotion Drive of South Indian Bank) was conceptualised as a comprehensive and centralised banking solution.[8] That year, SIB also entered into an alliance with three exchange houses in Gulf. In the year 2002, a tie-up was also made between the bank and an insurance payer for distributing the products of the latter.[8]

The internet banking facility, namely Sibernet was introduced to the customers in 2003. They also made an agreement between MasterCard International to launch Maestro, the global ATM/Debit Card.[8] During 2004, the bank had celebrated 75 years. The follow on public offering was made in 2005.[12]

In FY06, SIB opened 21 new branches and 11 extension counters. The bank had tied up with Mastercard Inc. for Global debit and ATM card operations to spread their ATM reach.[13] During this year, the bank launched net banking as well as SMS based mobile banking. This helped their customers banking activities in a more quicker and cheaper manner.[13]

In FY14, the bank had introduced direct and indirect tax payment facility its retail and corporate customers.[13] The same year, a kiosk banking model was launched by the bank. It is a kind of model that delivers banking services at customer end.[13]

In FY18, the bank had a tie up with Kotak Mahindra Life Insurance Ltd. and SBI Life Insurance Co. Ltd. in addition to its existing partner of Life Insurance Corporation of India. The bank also had a tie up with the New India Assurance Co. Ltd. as their second partner for general insurance in addition to Bajaj Allianz General Insurance Co. Ltd.[14]

The bank has won the 'UiPath Automation Excellence Awards 2021' for Best Automation under crisis for business continuity.[15]

The total deposits of the bank, as of March 2026 was Rs. 1,23,346.32 crore as against the amount of Rs. 1,07,525.60 a year ago. The bank registered a growth of 14.71% this year.[14]

Operations

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Employees

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The bank is committed to gender inclusive hiring, with men and women employees taking up equal proportions of the workforce. Around 30% of the workers are also disabled.[16] To make the space more inclusive and accessible, several measures have been taken up by the bank as well. A significant portion of the office is in the ground floor, the entryways are equipped with ramps, and other accessibility features have been made available to the disabled people in the office. Moreover, the HR policy of the bank mandates hiring on the basis of equal opportunity.[16]

Board of directors

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  • Jose Joseph Kattoor - Chairman
  • P R Seshadri - Managing Director and CEO
  • M George Korah - Director
  • Pradeep M. Godbole - Director
  • Paul Antony IAS (Retd.) - Director
  • R A Sankaranarayanan - Director
  • Benny P Thomas - Director
  • Lakshmi Ramakrishna Srinivas - Director
  • Thomson Thomas - Director
  • Dolphy Jose - Executive Director

Other Initiatives

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Kiosk Banking

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In the Financial Year of 2014, a new banking channel was introduced by the bank- Kiosk Banking Model. This new initiative ensures that banking services are delivered at customer end.[14] This initiative offers basic services like customer enrolment, deposits, withdrawal, fund transfers, balance enquiry, FD, RD remittance, etc to its potential customers. The customers can now open a new basic savings account in the kiosk centre by providing KYC documents and biometrics.[14] Banking Transactions can be conducted without a cheque leaf or an ATM card. The same was made available across Kerala through Akshaya Centres.[14]

CSR Activities

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The core area of CSR activities of SIB is Eradicating Hunger, Poverty and Malnutrition, Promoting education and provision of vocational training, promoting gender equality, Contribution to national funds (such as PM Cares or any other funds set up for helping the minorities), and contribution to creating technology incubators in academic institutions. Other areas of work includes Ensuring Environmental Stability, Protection of national heritage, and Measures for the benefits of armed force, rural development projects and slum area development.[17]

Awards

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  • In 2006, the bank won a special award for excellence in Banking Technology from IDRBT.[12]
  • In 2026, the bank won multiple awards at the IBA Banking Technology Awards, 2024-25.[18] The awards won by them includes the 'Best Tech Talent Award', runners up in 'Best AI-ML Adoption', 'Best Tech bank', and 'Best Digital Sales'. Furthermore, they won a special mention for 'Best FinTech and Digital Payment Index Adoption' and 'Best IT and Risk Management'.[18]
  • SIB emerged as the best performer in Asset Quality category in Analyst 2008 Survey of Indian Banks among private sector banks, including both traditional and new banks.[13]

See also

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References

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  1. ↑ "Board of Directors - South Indian Bank". Southindianbank.com. Retrieved 8 October 2020.
  2. ↑ "South Indian Bank : 96TH ANNUAL REPORT 2023-24" (PDF). Southindianbank.com. Retrieved 10 August 2026.
  3. 1 2 3 4 5 "Audited Standalone Finanical Results for the Quarter Ended March 31, 2026" (PDF). Southindianbank.in. Retrieved 10 August 2026.
  4. ↑ "The South Indian Bank Ltd. Share Price Today, Market Cap, Price Chart, Balance Sheet". Ticker.finology.in. Retrieved 10 August 2026.
  5. ↑ "South Indian Bank 97th Annual Report 2024-25" (PDF). Southindianbank.in. Retrieved 10 August 2026.
  6. ↑ "SIBOSL (Wholly Owned Subsidiary)". Southindianbank.bank.in.
  7. ↑ [dead link]
  8. 1 2 3 4 5 6 7 8 "South Ind.Bank Summary: Latest Updates and Details". India Infoline. Retrieved 30 July 2026.
  9. ↑ "South Indian Bank: Personal Banking, NRI Banking, Business Banking Services". Southindianbank.bank.in. Retrieved 10 August 2026.
  10. ↑ "About us". Southindianbank.bank.in. Retrieved 6 November 2025.
  11. ↑ "SOUTH INDIAN BANK LIMITED". Zaubacorp.com.
  12. 1 2 "South Ind.Bank Summary: Latest Updates and Details". Indiainfoline.com. Retrieved 10 August 2026.
  13. 1 2 3 4 5 "South Ind.Bank Summary: Latest Updates and Details". India Infoline. Retrieved 31 July 2026.
  14. 1 2 3 4 5 "South Ind.Bank Summary: Latest Updates and Details". India Infoline. Retrieved 1 August 2026.
  15. ↑ "South Indian Bank : News and Events". Southindianbank.in. Retrieved 10 August 2026.
  16. 1 2 "Business Responsibility and Sustainability Reporting by listed entities" (PDF). Archived from the original (PDF) on 1 August 2026.
  17. ↑ "South Indian Bank : CORPORATE SOCIAL RESPONSIBILITY POLICY" (PDF). Southindianbank.bank.in. Retrieved 10 August 2026.
  18. 1 2 "South Indian Bank Wins Big at IBA Awards". Passionate In Marketing. 14 January 2026. Retrieved 31 July 2026.
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