South Indian Bank Ltd(SOUTHBANK)

NSE: SOUTHBANKBSE: 532218

₹ 52.71+0.27%refreshed 26 Oct, 03:59 pm ISTMarket cap: ₹ 13,807 crWebsite: www.southindianbank.comUpdated: 27 Oct 2026

About

South Indian Bank, established in 1929 in Thrissur, Kerala, is a private sector bank with a customer base of 8.3 million as of March 2026. It positions itself as one of India's leading private sector banks with particular strength in gold loans, NRI deposits, and a growing MSME franchise. It reported revenue of ₹9846.5 cr in FY26.^[1][2]

Business segments

Other Retail Banking was the largest segment in FY26 at ₹4,487.02 cr of revenue, 37.8% of the total.^[3]
Corporate/Wholesale Banking earned ₹3,442.34 cr in FY26, 29.0% of revenue, against ₹3646.52 cr in FY25.^[3]
Treasury revenue was ₹2,596.37 cr in FY26 (21.9% of the total), up from ₹2,204.18 cr in FY25; its share rose 2.2 percentage points over FY2022-FY2026.^[3]
Digital Banking earned ₹853.04 cr in FY26 (7.2% of revenue) against 843.03 cr in FY25, with a segment loss of ₹108.02 cr in FY26 versus a loss of 68.74 cr in FY25.^[3]
Other Banking Operations earned ₹476.51 cr in FY26 (4.0% of revenue) against ₹493.03 cr in FY25.^[3]

Loan book composition

Gross advances rose to Rs 1,09,517 cr in Q2 FY27 from Rs 92,286 cr a year earlier; growth was 20% YoY excluding a Rs 1,163 cr technical write-off.^[4]
Retail, agri and MSME made up about 61% of the loan book in Q2 FY27, up from 60%; corporate is the remainder.^[4]
In Q2 FY27 gold loans grew 41% and business segment loans grew 15%.^[4]
Gold loans stood at ₹24,930 cr in Q1 FY27, about 25% of advances, with an average LTV of 65.25% and an average ticket of ₹2.94 lakh.^[5]
The newer 'Others' MSME book grew to Rs 6,337 cr in Q2 FY27 from Rs 5,214 cr in Q1 FY27, while the legacy MSME/SME book was flat.^[4]
Management targets bringing corporate advances, 40% of the loan book in Q1 FY27, down to about 33% over the medium term.^[5]
Home loans grew 25% YoY to ₹8,849 cr and auto loans grew 25% YoY to ₹2,288 cr in Q2 FY26.^[1]

Deposits, CASA and NRI franchise

Deposits were Rs 1,37,279 cr in Q2 FY27, up 18.72% YoY; cost of deposits was 5.00%.^[4]
The CASA ratio was 31.55% in Q2 FY27, down 31 bps YoY, against 32.98% in Q1 FY27.^[4][5]
Low-cost NRI deposits rose to Rs 14,844 cr in Q2 FY27.^[4]
NRI deposits make up nearly 29% of total deposits. The bank has over 5.58 lakh NRI customers, and the NRI portfolio grew to over ₹35,000 cr in FY26.^[1]
In FY26 the bank signed 10 new remittance arrangements in UAE, Oman, Qatar, Mauritius and Uganda.^[1]

Asset quality and capital

GNPA was 1.24% and NNPA 0.09% in Q2 FY27, against 1.38% and 0.26% in Q1 FY27.^[4][5]
PCR including write-offs was 97.84% in Q2 FY27, against 94.51% in Q1 FY27.^[4][5]
The slippage ratio was 0.09% in Q2 FY27, against 12 bps in Q1 FY27.^[4][5]
NIM was 3.33% in Q2 FY27, up from 3.23% in Q1 FY27 and 2.80% a year earlier.^[4]
CRAR was 19.40% in Q2 FY27, against 19.62% in Q1 FY27.^[4][5]
GNPA was 1.43% in FY26 against 3.20% in FY25. NNPA was 0.29% against 0.92%, and PCR 94.10% against 85.03%.^[1]
Loans originated since October 2020 had a gross NPA of 0.38% as of FY26.^[1]

Products and digital banking

Retail loan products cover home loans (GEMS, HL Smart+, SIB Ashirwad), car, education and personal loans, gold loans (SIB Xpress, SIB Aureate, SIB Xpress Farm) and loans against property.^[1]
Digital products include the SIB Mirror+ app, SIBerNet internet banking, SIB SWIFTe, SIB FINX, Quick PL, Quick FD and SIB TF Online.^[1]
SIB RED, a full-fledged digital bank, was launched towards the end of March 2026.^[6]
Zeni is the bank's in-house AI framework, running day-book audit, a compliance chatbot, a generative AI assistant and agentic customer support.^[1]

Distribution and reach

The customer base was 8.3 million as of March 31, 2026, up from 8.0 million a year earlier.^[1]
More than 98% of transactions go through digital channels; mobile banking handled 235 million transactions in March 2026.^[1]
New branches opened in Hebbal (Bangalore) on 24 Sep 2026 and Vridhachalam (Tamil Nadu) on 23 Sep 2026, and six opened in Kerala on 17 Aug 2026.^[7]
As of Q2 FY26, co-lending partnerships with Amazon, Godrej Housing, FEDFINA, IIFL, Rupeek, MoneyView and Muthoot FinCorp were live, with the book above ₹1,500 cr.^[8]

Expansion and strategic plans

As of Q2 FY27 the bank plans to grow non-branch distribution via co-lending, direct assignment, loan-against-mutual-fund, personal loan and insurance premium financing partnerships.^[4]
As of Q2 FY27 the bank plans to add MSME ECG centres in high-potential locations to win new-to-bank clients.^[4]
Branch expansion is planned in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Maharashtra, Gujarat and New Delhi.^[6]
Management's FY27 targets are loan growth of 15-16% and opex growth of 5-6%.^[6]
The TF Online trade and FX platform was targeted to go live with full electronic capabilities by end-September 2026.^[5]

Recent developments

A bank-wide strike was planned for September 28-30, 2026. ATMs and digital channels were not affected.^[9]
A nationwide one-day bank strike was planned for September 11, 2026, with ATMs and digital channels not affected.^[10]
Revised LCR norms effective 1 Apr 2026 set a higher run-off factor for retail and small-business deposits.^[1]
New credit card issuance has been halted since March 2024 after problems with an external service provider; as of Q3 FY26 the bank was working on ways to re-enter.^[11]

Market Cap

₹13,807 Cr

High / Low

₹56 / 33

Stock P/E

8.7

Price / Book

1.1

Book Value

₹43

EPS

₹5.6

No. of Shares

261.76 Cr

ROE

13.5%

Sales

₹9,847 Cr

Net Profit

₹1,456 Cr

Promoter holding

0.0%

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South Indian Bank Ltd(SOUTHBANK)

About

Business segments

Loan book composition

Deposits, CASA and NRI franchise

Asset quality and capital

Products and digital banking

Distribution and reach

Expansion and strategic plans

Recent developments

Signal history

The analysis Screener can't give you

AI Deep Dive

Verdict

Company data

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