As a Bank that boasts of a 96-year-old legacy,
South Indian Bank has been able to sustain the growth momentum by keeping with the times and evolving to suit changing customer needs and preferences.
South Indian Bank (SIB), among India’s reliable private sector Banks, has registered its highest ever net profit of INR 1302.88 crore in FY2024-25, a growth of 21.75% compared to FY2023-24. Apart from record net and operating profits, the Bank has also witnessed its highest ever growth in business at INR 1,95,104.12 crore. Along with growth in income, the Bank has also been able to successfully improve its asset quality by reducing Gross Non Performing Assets (GNPAs) and Net Non Performing Assets (NNPAs).
- Rooted in Legacy, Powered by Modernity
SIB’s roots were laid in Thrissur, Kerala in 1929 and since then, it has spread its branches far and wide to become a globally recognized Indian Bank. With several firsts to its credit - including being the first private sector Bank in Kerala to become a Scheduled Bank, and the first private sector Bank to open an NRI branch, SIB is known for its vision and foresight.
Built on the foundation of trust, SIB’s relationship with customers spans over 9 decades with the Bank having catered to over 3 generations of investors successfully. With best-in-class mobile, internet and WhatsApp banking services, SIB has truly embraced modern technology to stay relevant to customers while staying true to its roots. Considering the changing customer needs, the Bank has been a front runner in adopting latest tech into banking with platforms such as the mobile banking app SIB Mirror+, Internet Banking through SIBerNet, WhatsApp Banking channel etc. The Bank has also been an innovator in introducing new digital first products like SIB Quick FD (online FD), SIB Quick PL (online Personal Loan), SIB Digital Loan Against Mutual funds etc., to meet the investment and instant fund needs of the customers.
- Sustained Growth, Steady Momentum
The Bank’s performance over the years and especially in FY25, is a testament to it’s focus on persistent growth that drives value for all stakeholders. Apart from growth in deposits and advances, SIB has also achieved its highest Return on Assets (RoA) of 1.05% in the last 20 years. Similarly, its Return on Equity (RoE) of 12.90% is its highest in the last 11 years. In the coming years, the Bank will continue to invest in technology to improve customer experiences, drive strategic growth across segments and improve efficiencies.
With just a boundary short of celebrating its 100th year, the Bank is marching towards a remarkable milestone, driven by the trust of its customers and an unwavering commitment to serve them.
Disclaimer: The article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of The South Indian Bank Ltd. or its employees. The South Indian Bank Ltd and/or the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial/non-financial decisions based on the contents and information’s in the blog article. Please consult your financial advisor or the respective field expert before making any decisions.