SOUTH INDIAN BANK

A History of Progressive Banking

South Indian Bank (SIB) is one of the leading scheduled commercial banks in India with a strong focus on technology and service cultur.

With the recent issue of two crore equity shares with a face value Rs. 10 per share at a premium of Rs. 153 per share aggregating to Rs. 326 crore to Qualified Institutional Buyers the bank has now crossed the milestone of Rs.1000 crore in total net worth .

The Capital adequacy ratio of the bank is as high as 14.92% against the regulatory requirement of 9%. In spite of additional issue of capital, the Book value per share has increased from Rs. 102.45 to Rs.127.85.

South Indian Bank(SIB) has now established the largest network , in the private sector ,of Core Banking branches next only to ICICI Bank , HDFC Bank and AXIS Bank. As on date the Bank has established a network of 487 CBS branches and 27 CBS extension counters and also 200 online ATM Centres.The bank is planning to open 13 more branches during the current financial year to take the total number of branches to 500.The Bank had declared 2007-08 as the year of youth and has launched a novel deposit scheme “YOUTH PLUS” with technology features focusing the younger generation..

With the up-gradation of technology , SIB now offers a host of hi-tech products which enables the customers bank from anywhere , saving them time , money and hassles . This means that they can avail of a range of solutions and make convenience banking a way of life . For this the Bank has launched various value-added products and services like Global Debit-cum-ATM card, Internet Banking, Mobile Banking etc.

The Bank very recently could bag a special award for excellence in banking technology from IDRBT which is the technical arm of the Reserve Bank of India .This award was presented to the Bank as a national level recognition to the excellent contribution made in the area of information systems, security policies and practices .The bank has bagged this award by tightly competing with all categories of banks in India such as Foreign Banks, Private sector banks, public sector banks and co-operative banks .

As on date the Bank has established a network of 487 CBS branches and 27 CBS extension counters and also 200 online ATM Centres.


BUSINESS STRATEGY

The Bank is committed to become a technology- driven , customer-oriented bank (the new corporate slogan being -“Experience Next Generation Banking”)where passion for excellence is a way of life , innovation is a tradition , commitment to values unshaken and customer loyalty is abiding .

The long-term corporate objective is to emerge as the most preferred Bank in India, with core competence in fostering relationship banking, garnering core deposit with accent on cost, creating high yielding quality assets through focused marketing, qualitative appraisal and effective monitoring. We are dedicated to provide quality service to our customers and maintain high standards in corporate responsibility.

SIB-A Customer Oriented Bank

Despite acquiring the latest technological capabilities available to the banking industry in the country, the Bank will continue the emphasis on personalized customer service, which has been the Bank’s core strength for all these 78 years. Incidentally , the Bank had also been selected , in the Outlook Money – C- Fore Survey, as the best private sector Bank in India in the ‘Service Quality ‘ segment .

What Mr. Narayana Murthy Told About Us :
Announcing the total implementation of CBS in SIB ,Mr.Narayana Murthy , Chairman & Chief Mentor of Infosys Technologies who recently has been elected as the Chairman of the Asian Business Council said:’Completing one’s job in time and also with efficiency is a sign of excellence .This is where I’ve got tremendous respect for South Indian Bank’ .In this context Mr.Murthy referred to the dismal performance of the India Cricket team (in March 2007) who had commenced their celebrations even before the play , and said ,”South Indian Bank , on the other hand , had waited for one month to confirm the efficacy of the new system and then only celebrated even though they had completed implementation of CBS in the month of February itself .In India we usually celebrate even before performing one’s duties .So my earnest wish is –‘Let there be thousands to emulate SIB’s example’.

For press queries :Senior. Manager, Corporate Comunications, The South Indian Bank Ltd.
Ph:0487-2423858 Mob:9847404555 E-mail:simonjoseph4@gmail.com