South Indian Bank
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Private & |
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| Industry |
Banking Financial Services Insurance Capital markets |
| Founded | 1929 |
| Headquarters | SIB House, Mission Quarters, Thrissur City, Kerala, India, 680001 |
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Key people
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Sri. V.G. Mathew, Managing Director & CEO |
| Products |
Loans, savings, investment vehicles, insurance etc. Turnover = INR 1 lakh crore |
| Revenue | ₹ 26.4270 billion |
| ₹ 2.3376 billion | |
| Website | www.southindianbank.com |
Loans, savings, investment vehicles, insurance etc.
South Indian Bank Limited (SIB) (: 532218, : SOUTHBANK) is a major private sector bank headquartered at Thrissur in Kerala, India. South Indian Bank has 841 branches, 4 service branches,47 ext.counters and 20 Regional Offices spread across more than 27 states and 3 union territories in India. It has set up 1310 ATMs and 17 Bulk Note Acceptor/Cash Deposit Machines all over India.
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 license under section 22 of the Banking Regulation Act 1949 from RBI on 17-06-1957.
South Indian Bank unveiled the new corporate logo. Mammootty, the global brand ambassador of the bank, unveiled the new corporate brand logo.
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. Currently SIB is the only bank in South India that has a brand ambassador.
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.
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