South Indian Bank

South Indian Bank Ltd (SIB)

Type

Private BSE & NSE

Industry

Banking Financial Services Insurance Capital markets

Founded

1929

Headquarters Thrissur City, Kerala, India

Key people

Dr V.A. Joseph, Managing Director and Chief Executive Officer

Products

Loans, savings, investment vehicles, insurance etc.

Revenue

26.4270 billion

Website

www.southindianbank.com

South Indian Bank Limited (SIB) (BSE: 532218, NSE: SOUTHBANK) is a private sector bank headquartered at Thrissur City in Kerala, India. South Indian Bank has 708 branches spread across more than 26 states and union territories in India. It has set up 720 ATMs all over India.1

Slogans changing with times

The South Indian Bank Ltd. - In Step With Progress Growing To Serve You Everywhere Your Interest Above Everything Else A Bank For All Seasons Blending Tradition with Technology Experience Next Generation Banking

Milestones

First among the private sector banks in Kerala to become a scheduled bank in 1946. First bank in the private sector in India to open a Currency Chest in April 1992. First private sector bank to open a NRI branch in November 1992. First bank in the private sector to start an Industrial Finance Branch in March 1993. First among the private sector banks in Kerala to open an overseas branch in June 1993. First bank in Kerala to develop an in-house, fully integrated branch automation software. First Kerala based bank to implement Core Banking System. Third largest branch network among private sector banks in India.2

Awards and Accolades

Best Bank in Asset Quality Award- Dun & Bradstreet. No. 1 in Asset Quality- Business Today Ranking of Banks. Best Performer in Asset Quality- Analyst 2008 Survey. Top NPA Manager- ASSOCHAM- ECO Pulse Survey. Best Old Private Sector Bank- Financial Express India's Best Banks 08-09. Best Asian Banking Website- Asian Banking & Finance Magazine, Singapore. Best private sector bank in India in the service quality segment-Outlook Money - CFore Survey Special award for excellence in Banking Technology from IDRBT (Institute for Development & Research in Banking Technology) the technical arm of the Reserve Bank of India as a national level recognition to the excellent contribution made in the area of Information Systems Security Policies and Procedures. citation
needed

New Look

Old logo

South Indian Bank unveiled the new corporate logo that demonstrates the major transformation the bank has undergone since its inception. Mammootty, the three-time Bharath award winning megastar, who is also the global brand ambassador of the bank, unveiled the new corporate brand logo.

Mammootty is the brand ambassador of South Indian Bank.

The bank, as part of a global brand-building exercise, has signed South Indian actor Mammootty as its brand ambassador banking on the film star's `pan India appeal, clean image and popularity among the NRI community'. The initial contract between the bank and actor was for three years which was later extended for five more years.3 Currently SIB is the only bank in South India that has a brand ambassador. By endorsing Mammootty as its global brand ambassador, SIB has received a huge boost especially in the Middle East.

Financial Inclusion & Financial Literacy Centres

Financial Inclusion is all about extending basic banking facilities to the unbanked /under banked villages and urban centres. South Indian Bank with its eight decades of experience in personalized banking services has designed a simple, secure and smart banking product FINS Card A/c to achieve the goals of financial inclusion. So far, the Bank has provided the basic banking facilities to the residents of FI villages through Business Correspondents. Till date, the bank has covered more than 50 villages and 5 urban centres under Financial Inclusion and opened more than 10 exclusive FLC Centres in the bank premises, which spreads across the states of Kerala, Tamil Nadu, Andhra Pradesh and Chhattisgarh. Unlike other banks, South Indian Bank has appointed direct Business Correspondents in the allotted villages and are supervised by a dedicated team of officers in the FIP Cell - Head Office. The Bank has launched this smartcard based FI initiative in association with M/s Coromandel Infotech India Ltd., Chennai, who is the technology service provider.4

Tie-ups
ING Life has a tie-up with SIB to collect insurance policy renewal payments for ING Life customers. 5 SIB also has bancassurance arrangements with both Bajaj Allianz General Insurance Company Ltd for distribution of

non-life insurance products and the Export Cr Guarantee Corporation of India for distribution of export risk cover.6 It has also tied up with ICICI Prudential AMC, Franklin Templeton, TATA Mutual Fund, Sundaram BNP Paribas, UTI Mutual Funds, Reliance Mutual Fund, HSBC Investments, HDFC Mutual Fund, Fidelity Fund Management Pvt Ltd, Principal Mutual Funds, Fortis Investments, Birla Sun Life Asset Management Company Ltd and DSP BlackRock Mutual Funds, all mutual fund houses, for distribution of their mutual fund products.7 In March, 2010, the bank signed an agreement with Sri Lanka's Hatton National Bank (HNB) for exchange of services and expertise between them.8 The MoU set out a framework between the two banks to enter into mutually beneficial arrangements to offer banking services to their respective customers. The tie-up was expected to foster trade-related cross border business like advising and confirming Letter of cr, negotiating and discounting of export-import bills and providing cr report of customers between the two countries. It would also enable the customers of HNB to utilise the services of Hadi Express Exchange, for which management support is provided by SIB.8The Kerala Government had given permission to SIB to accept commercial taxes.9 The bank has been appointed as the largest service provider (point of sale) for theNew Pension Scheme (India) launched by the Government of India.

Board of directors

Amitabha Guha -Non-Executive Chairman Dr.V.A Joseph - Managing Director & CEO Abraham Thariyan - Executive Director Cheryan Varkey - Executive Director Paul Chalissery - Director N J Kurian - Director Jose Alapatt - Director Mohan Alapatt - Director Thomas Jacob.K - Director H.Suresh Prabhu - Director Mathew L Chakola - Director10

TOTAL NUMBER OF BRANCHES : 730 EXT.COUNTERS : 0

ATM : 748

Building Blocks One of the earliest banks in South India, "South Indian Bank" came into being during the Swadeshi movement. The establishment of the bank was the fulfillment of the dreams of a group of enterprising men who joined together at Thrissur, a major town (now known as the Cultural Capital of Kerala), in the erstwhile State of Cochin to provide for the people a safe, efficient and service oriented repository of savings of the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based cr at reasonable rates of interest. Translating the vision of the founding fathers as its corporate mission, the bank has during its long sojourn been able to project itself as a vibrant, fast growing, service oriented and trend setting financial intermediary. Milestones The FIRST among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act. The FIRST bank in the private sector in India to open a Currency Chest on behalf of the RBI in April 1992. The FIRST private sector bank to open a NRI branch in November 1992. The FIRST bank in the private sector to start an Industrial Finance Branch in March 1993. The FIRST among the private sector banks in Kerala to open an "Overseas Branch" to cater exclusively to the export and import business in June 1993. The FIRST bank in Kerala to develop an in-house, a fully integrated branch automation software in addition to the inhouse partial automation solution operational since 1992. The FIRST Kerala based bank to implement Core Banking System. The THIRD largest branch network among Private Sector banks, in India, with all its branches under Core banking System. Future Perfect The South Indian Bank with a new logo and image, marches on. With branches all over India and a clientele across the world, the bank is considered one of the most pro active banks in India with a competent tech savvy team of professional at the core of services.