A recent press report said that the Reserve Bank of India has conveyed their approval for the re-appointment of Dr. V. A. Joseph, as Managing Director & CEO of South Indian Bank Ltd for a period of three years, with effect from October 01, 2011 till September 30, 2014.
Recently the bank has recorded 24 per cent growth in net profit to Rs 94 crore for the quarter ended compared with Rs 76.30 crore in the corresponding period of previous year. The bank’s total business has grown 31 per cent to Rs 56,386 crore and its advance has grown 30 per cent to Rs 23,248 crore.
South Indian Bank Limited (SIB) is a private sector bank headquartered at Thrissur in Kerala, India. The bank has 580 branches and 3 extension counters spread across more than 26 states and union territories in the country. It has set up 375 ATMs all over India. 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. Its lending portfolio includes home loan, personal loans, vehicle loan, education loan, mortgage loan, gold loans etc.