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South Indian Bank

South Indian Bank Ltd (SIB)
Type Private
Industry Banking
Financial Services
Capital markets
Founded 1929
Headquarters Thrissur City, Kerala, India
Key people Dr V.G. Mathew, Managing Director and Chief Executive Officer
Products Loans, savings, investment vehicles, insurance etc.
Revenue INR 26.4270 billion

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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 806 branches, 9 service branches and 20 regional offices spread across more than 26 states and 3 union territories in India. It has set up 1064 ATMs and 3 Bulk Note Acceptor/Cash Deposit Machines all over India. On the Financial Inclusion front, Bank has opened 3 Ultra Small Branches and operates 57 KIOSKs in the state of Kerala and Tamil Nadu for the benefit of common people. Pullu village in Thrissur District was adopted by the Bank and several steps have been taken to transform the village as a "Model Village" in India.


  • Slogans changing with times 1
  • Vision 2
  • Mission 3
  • Milestones 4
  • Latest Awards 5
  • Other Awards and accolades 6
  • History 7
  • A Southern Odyssey, The Story of South Indian Bank 8
  • New look 9
  • Financial inclusion & Financial Literacy Centres 10
  • 85th Anniversary celebrations 11
  • Tie-ups 12
  • Board of directors 13
  • References 14
  • External references 15

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


To be the most preferred bank in the areas of customer service, stakeholder value and corporate governance.


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.


  • 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.[1]

Latest Awards

Best IT Team Award Banking Technology Excellence Award

South Indian Bank has won the prestigious Banking Technology Excellence Award-(tenth edition-2014) for 'Best IT TEAM'-(Small Bank category) from IDRBT, the technical arm of Reserve Bank of India. On behalf of the bank, Sri.V.G.Mathew, MD&CEO received the award from RBI Governor, Dr. Raghuram Rajan in the presence of Sri. R.Gandhi, Dy. Governor, RBI and Chairman-IDRBT, Sri. B. Sambamurthy, Director-IDRBT, Dr. A.S. Ramasastri, Director Designate, IDRBT, Sri. John Thomas, GM and IT Head -South Indian Bank and eminent dignitaries from banking sector.This is the fourth time, South Indian Bank has won the IDRBT award, for excellence in various banking technology domains.

Other 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.

Dr. V.A.Joseph, the then MD&CEO South Indian Bank has received 4 prestigious awards from SUNDAY STANDARD in the last financial year - 2013-14.

  • Best Banker Award (Mid Sized Banks)
  • Best Private Sector Banker Award
  • Best Banker- All round expansion Award
  • Best Banker - Efficiency and Profitability Award


South Indian Bank is now one of the leading scheduled commercial banks in India with a strong focus on technology and customer service. South Indian Bank was registered as a private Limited Company under the companies Act of 1913 and commenced business on 29-01-1929 at Round South, Thrissur. The South Indian Bank Ltd., was formed by a group of 44 enterprising men of Thrissur who contributed Rs.500/ - each to the initial paid up capital of Rs.22,000/ -. Their main objective was to serve the merchant community of Thrissur by freeing them from the clutches of the money lenders who charged exorbitant rates of interest.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 India and 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. In the 85 years of its service the Bank had survived many crises. It could survive the Kerala Banking crisis of 1960 when the Palai Central Bank was closed down. A turbulent environment was experienced by banks in Kerala. It was a period of merger, amalgamations and take overs. South Indian Bank ventured to extend its helping hand to take over the assets and liabilities of 15 small banks in Kerala in 1964. It was based on the general policy of consolidation formulated by RBI.

A Southern Odyssey, The Story of South Indian Bank

A coffee-table book of South Indian Bank titled ‘A Southern Odyssey, The Story of South Indian Bank’ an illustrated history book of the bank, was released by Chief Minister Oommen Chandy by handing over the first copy to MA Yousaf Ali, Managing Director, Lulu Group of Companies in a colorful event on 29th August, 2014 at Taj Gateway, Ernakulam,.

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.[2] 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 100 villages and 15 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. 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. Recently South Indian Bank has introduced “KIOSK Banking Model" as Financial Inclusion Initiative in association with Akshaya e-centres in the state of Kerala through the software service provider - M/s Tata Consultancy services.. Kiosk is a kind of banking model, where people living in unbanked or under banked areas can avail basic banking facilities from a nearby common service centre/BC Office without visiting a regular bank branch .Basic banking needs of the public like opening of account, deposit and withdrawal of cash etc. is possible from these common service centre/BC Office. [3]

85th Anniversary celebrations

To commemorate the 85th Anniversary celebrations of the Bank, an Award Ceremony was organized at Lulu International Convention Center on 1st of February 2014. The Bank has chosen six eminent personalities who have contributed to the society in various fields and honored them. Shri. Nikhil Kumar, the then Honorable Governor of Kerala, Padmasree Mammootty and other distinguished attended the function. The 800th branch of the Bank was also opened on the same function by Hon. Governor. The awardees are:

  • Sri. O.N.V Kurup, Renowned Malayalam poet and lyricist from Kerala, who won Jnanpith Award, the highest literary award in India for the year 2007.
  • Sri. E. Sreedharan, Managing Director of Delhi Metro between 1995 and 2012. He is otherwise also popularly known as the "Metro Man". He is now chosen for implementation of Kochi Metro Rail Project.
  • Dr. V. P. Gangadharan, Former Head of the Department at Regional Cancer Center – Trivandrum. He is a distinguished Oncologist who combines high professional skill with compassion.
  • Sri. P. Jayachandran, Leading Malayalam playback singer. He has won one National Award, four Kerala State Awards and four Tamil Nadu State Awards. Jayachandran is also affectionately called the Bhava Gayakan.
  • Sri. Kochouseph Chittilapilly, One of Kerala's leading industrialists and a well known philanthropist actively involved in social causes.
  • Sri. Innocent, Leading cine actor and President of Association of Malayalam Movie Artistes (AMMA)


ING Life has a tie-up with SIB to collect insurance policy renewal payments for ING Life customers.[4] 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.[5] 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.[6] In March, 2010, the bank signed an agreement with Sri Lanka's Hatton National Bank (HNB) for exchange of services and expertise between them.[7] 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.[7] The Kerala Government had given permission to SIB to accept commercial taxes.[8] 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.

Board of directors

  • Sri.Amitabha Guha -Non-Executive Chairman
  • Mr. V.G Mathew - Managing Director & CEO
  • Sri.Mohan E. Alapatt - Director
  • Sri.K. Thomas Jacob - Director
  • Dr.John Joseph - Director
  • Sri.Francis Alapatt - Director
  • Sri. Salim Gangadharan - Director
  • Mr. Cheryan Varkey - Director
  • Smt. Ranjana Salgaocar - Director [9]


  1. ^ "About us". South Indian Bank Ltd. Retrieved 2010-02-23. 
  2. ^ "Our ambassador Mammootty quite young: South Indian Bank". Thiruvananthapuram: March 23, 2010. Retrieved 1 April 2010. 
  3. ^ "Financial Inclusion Smart Card Account". South Indian Bank Ltd. Retrieved 2012-09-17. 
  4. ^ "South Indian Bank, ING Life tie up". The Hindu. Retrieved 2010-02-23. 
  5. ^ "South Indian Bank to vend LIC products". The Hindu. Retrieved 2010-02-23. 
  6. ^ "Mutual Funds". South Indian Bank. Retrieved 2010-02-23. 
  7. ^ a b "Kerala's SIB, Lanka's HNB discover synergy in banking". The Economic Times. 2010-03-23. Retrieved 2010-03-28. 
  8. ^ "South Indian Bank net profit up by 35%". Chennai, India: The Hindu. 2010-01-17. Retrieved 2010-02-15. 
  9. ^

External references

  • Official web site
  • Interview of Dr. V.A Joseph, Managing Director & CEO, South Indian Bank
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