South Indian Bank Limited (SIB) (BSE: 532218, NSE:

SOUTHBANK) is a private sector bank headquartered

at Thrissur in Kerala, India. It is headed by Dr.V A Joseph,
Managing Director & CEO of the bank. South Indian Bank has 580
branches and 3 extension counters spread across more than 26
states and union territories in India. It has set up 375 ATMs all over
India.[1] In the current year 2010-11, the bank is planning to add 60
more branches throughout India which aims in having presence in
all the states of India. The current growth plan of the bank is to
establish 750 branches, 750 ATMs and 75000 crores of business
by the end of financial year 2013. The bank offers major services in
various segments of accounts and deposits, loans, mutual funds,
insurance, money transfers and other value added services. The
Kerala Government had given permission to SIB to accept
commercial taxes.[2] The bank has been appointed as the largest
service provider (point of sale) for the New Pension Scheme
(India) launched by the Government of India.
]History

South Indian Bank was formed on the 29th January 1929 by a

group of 44 enterprising men, who with a capital of only Rs
22,000.00, joined together at Thrissur city to liberate the business
community from the clutches of greedy money lenders.The bank
received very good support from the public at large. Initially the
growth was slow but steady. The number of branches opened each
year testified its stability and popularity. It was included in the
second schedule of the Reserve Bank of Indiaand became a
scheduled Bank on 07-08-1946. SIB was the first scheduled Bank
in the private sector in Kerala to get the licence under section 22 of
the Banking Regulation Act 1949 from RBI on 17-06-1957. The
bank gained the confidence and received the patronage of the
public in increasing measure over the years and in the 1960s when
there was a crisis in the banking industry in Kerala, South Indian
Bank took over fifteen other smaller banks.
[edit]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

[edit]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, a fully integrated
branch automation software.
 First Kerala based bank to implement Core Banking System.
 Third largest branch network among Private Sector banks in
India.[3]

[edit]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]

[edit]New corporate brand logo

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.
[edit]Brand Ambassador

Mammootty is the brand ambassador of South Indian Bank.

The bank, as part of the global brand building exercise, has signed
South Indian actor Padmashree Bharath Mammootty as its brand
ambassador banking on the film star's `pan India appeal, clean
image and popularity among the NRI community'. His tech savvy
image goes hand-in-hand with the bank which has always been in
the forefront of embracing technology. The initial contract between
the bank and actor was for three years which was later extended
for five more years.[4] Currently SIB is the only bank in South India
that has a brand ambassador. Through endorsing Mammootty as
its global brand ambassador, SIB has received a huge boost
especially in the Middle East.
[edit]Tie-ups

ING Life have 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
Credit 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 Funds, 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'sHatton
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 credit, negotiating and discounting of
export-import bills and providing credit 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.[8]
[edit]Financial results for the year 2009-10

 Total Business: 39125 crores

  Revenues: 2144.18 crore
 Profit After Tax: Rs 233.76 crore (20% growth)
 Stock Market Capitalization: Rs 1,574.75 crore as on Feb 23,
2010.[9]

The bank showed a consistent growth in its earnings and grew

over 20% which is higher than the industry average. The bank
targeted a business of 36000 crores for the financial year 2009-10,
but the growth was so quick that it was achieved before time.Later
the target was increased to 38000 crore and that also was
exceeded before the quarter end. South Indian Bank is targeting a
total business of 48000 crore for the FY 2010-11.
[edit]Board of directors

 Amitabh Guha - Chairperson

 Dr.V.A Joseph - Managing Director & CEO
 Abraham Thariyan - Executive Director
 A S Narayanamoorthy - Director
 C J Jose - Director
 Paul Chalissery - Director
 N J Kurian - Director
 Davy K Manavalan - Director
 Jose Alapatt - Director
 Mathew L Chakola - Director[10]

vision
To emerge as the most preferred bank in the country in terms of brand, values, principles with core
competence in fostering customer aspirations, to build high quality assets leveraging on the strong and
vibrant technology platform in pursuit of excellence and customer delight and to become a major contributor
to the stable economic growth of the nation.

Mission
To provide a secure, agile, dynamic and conducive banking environment to customers with commitment to
values and unshaken confidence, deploying the best technology, standards, processes and procedures
where customer convenience is of significant importance and to increase the stakeholders’ value.