1. The South Indian Bank
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50% Buy

The South Indian Bank Share Price

SOUTHBANK

₹27.90+₹0.25 (0.90%) TodayLast updated on 17 May, 2024 | 03:58 PM IST
₹27.50₹27.95
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Company overview

Financial performance

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Market cap

Market Cap Switch₹7,233 Cr

Open

₹27.80

Close

₹27.65

Circuit range

₹33.15 - ₹22.15

Day range

₹27.50 - ₹27.95

Year range

₹15.28 - ₹37.18

Volume

1,35,75,721

Avg. traded

₹27.79

Revenue (12m)

₹8,613 Cr

The South Indian Bank

South Indian Bank was established in 1929 in Thrissur, Kerala. Predominantly present in Kerala and the southern regions of India, the bank is expanding across the country. With 940 locations, three satellite branches and three ultra-small branches, South Indian Bank is growing its nationwide network. The bank’s focus is on corporate, personal, business and agricultural loans. The bank’s branch network covers 26 states and four Union Territories.

South Indian Bank was established during the Swadeshi movement. The bank was established with the objective of freeing the business sector from the clutches of moneylenders. The bank started by offering need-based loans at fair interest rates.

In 1946, South Indian Bank achieved the distinction of becoming the first private sector bank in Kerala to be scheduled under the RBI Act. It was also the first private sector bank in India to open a currency chest on behalf of the RBI in April 1992. South Indian Bank established its first NRI branch in November 1992.

With a market capitalisation of over ₹5,500 crore as of December 29, 2023) South Indian Bank is listed both in the BSE and NSE. South Indian Bank’s share price has gained more than 190% in three years.

In 2020, the bank unveiled six strategic priorities, or the 6Cs, leading to significant initiatives to restructure the control operations, liability and asset verticals.

These strategic priorities include:

Capital Adequacy:

The bank’s primary goal is to increase its capital reserves so that it would have a strong foundation for its future plans. Customer Focus: South Indian Bank uses a phygital approach that combines digital and physical elements at its branches. This approach of the bank is to improve the experience for its customers.

Competency Building:

Realising the value of the contributions made by its young staff members, the bank is investing in initiatives to help them hone their abilities. Cost-To-Income Ratio: One of South Indian Bank’s main priority is to optimise the cost-to-income ratio. By reducing this percentage, the bank seeks to improve both operational and overall financial performance.

CASA:

South Indian Bank wants to improve the portfolio of Customer Acquisition and Savings Accounts (CASA) by providing financial services that align with customer needs.

Compliance:

The bank strives to ensure that its compliance obligations are met out of a strong sense of duty.

Financial highlights

The total income of South Indian Bank stood at ₹8,044.55 crore for FY23, as against the previous financial year's ₹7,620.44 crore. The profit after tax (PAT) for FY23 stood at ₹737.27 crore, which was ₹49.44 crore in the previous financial year. Net interest income (NII) surged in FY23 to ₹7,233.18 crore from ₹6,586.54 crore compared to FY22. Net interest margin increased in FY23 to 3.30% from 2.62% in FY22. Net non-performing assets (NPA) decreased in FY23 to 1.86% from 2.97% in FY22. South Indian Bank's earnings per share (EPS) was ₹3.70 in FY23. It was ₹0.21 in FY22. In FY23, the total liabilities of the bank stood at ₹1,07,697.16 crore as against ₹1,00,051.87 crore in FY22.

The South Indian Bank Key indicators

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52 week high

₹37.18

52 week low

₹15.28

P/E ratio

5.78

P/B ratio

0.84

ROE

12.37%

ROCE

14.15%

Dividend yield

1.11%

Debt/Equity ratio

1.05

EPS

3.7

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Investment checklist: (2/6)

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Profit factor

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Analyst ratings:

Buy

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Buy

50%

Hold

50%

Sell

0%

This analysis is based on the reviews of 4 experts in the last 7 days

Fundamentals

Financial ratios

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  • Profitability

  • Operational

  • Valuation

Net Interest Margin (NIM)

2.97%

ROA

0.75%

Credit Deposit

76.16%

ROE

12.37%

Net profit margin

10.72%

EPS

3.7

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The South Indian Bank Shareholder returns

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1 day

--

1 week

+1.84%

1 month

+0.36%

3 months

-19.86%

1 year

+60.29%

3 years

+151.36%

5 years

+107.12%

Revenue statement

All values are in ₹ Crores (Cr)
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Empty state

No data available at the moment

Cash flow

All values are in ₹ Crores (Cr)
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Balance sheet

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The South Indian Bank Share Price history

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DayOpenCloseDay’s change

Shareholding info

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Promoters (0%)

Mutual Funds (1.69%)

Retail and other (80.21%)

Foreign institutions-FII (15.17%)

Other domestic institutions (2.93%)

Retail and other

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Events

Corporate actions

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  • Rights Issue • 1:4

    Ex date 27 Feb 2024

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  • Dividend • ₹0.3/share

    Ex date 17 Aug 2023

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Frequently asked questions