South Indian Bank
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Description of South Indian Bank
South Indian Bank Limited (SIB) (BSE: 532218, NSE: SOUTHBANK) is a private sector bank headquartered at Thrissur in Kerala, India. It is headed by Dr VA Joseph, Managing Director & CEO of the bank. South Indian Bank has 705 branches spread across more than 26 states and union territories in India. It has set up 683 ATMs all over India. In the year 2010-11, the bank is planning to add 60 more branches throughout India, thus allowing it to have a presence in all the states of India. The current growth plan of the bank is to establish 750 branches, 750 ATMs and 750 billion businesses by the end of financial year 2013. The bank offers major services in various segments- accounts and deposits, loans, mutual funds, insurance, money transfers and other value added services. The Kerala government had given permission to SIB to accept commercial taxes. 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.
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