South Indian Bank Limited (SIB) is one of the major private sector banks in India. It started operations in the year 1929. It is headquartered at Thrissur in Kerala, India. South Indian Bank runs a network of 871 branches, 4 service branches, 53 ext.counters and 20 Regional Offices. It presence is spread across 27 states and 3 union territories in India. The bank also operates over 1500 ATMs and 91 Bulk Note Acceptor/Cash Deposit Machines across India.
Listing and Revenue
|Operating Income||₹1,214 crore|
|Net Income||₹392.5 crore|
|Total Assets||₹74,312 crore|
Products and Services
South Indian Bank offers products and services like Credit cards, Mutual Fund Trading, Consumer banking, Finance and Insurance, Corporate banking, Mortgage loans, Private banking, Wealth management, Demat account, and Investment banking.
South Indian Bank was established on 29 January 1929. It was registered as private limited company in 2013 under the companies act. The bank was launched by 44 entrepreneurs of Thrissur. Each one of them contributed Rs 500 each for initial paid-up capital of Rs 22,000. The main objective of the bank was to take care of the financial and banking needs of the merchants of Thrissur.
The bank got good support from the people of Thrissur and registered slow but steady growth in its initial years.
Awards and Recognition
South Indian Bank has won the National Payments Excellence Award 2017 for 'RuPay'. The recognition was awarded under the small category banks. It is the highest and most reputed recognition in the banking industry to acknowledge the exceptional performance in payments system.