Hot Pursuit     19-Sep-22
South Indian Bank rises on increasing MCLR rate by 30-35 bps
South Indian Bank gained 3.43% to Rs 10.56 after the private lender increased in marginal cost of funds based lending rate (MCLR) by 30-35 basis points across different tenors, effective from 20 September 2022.
The overnight MCLR increased from 7.85% to 8.15 and MCLR for one month rose from 7.90% to 8.20%, a 30 basis point hike. The interest rate on the three month MCLR was raised from 8% to 8.30%, a 30 basis point hike, followed by the six month MCLR rate increased from 8.15% to 8.50%, a 35 basis point increase. The one year MCLR rate was raised from 8.50% to 8.85%, a 35 basis point increase. The revised rates will be effective from 20 September 2022.

South Indian Bank is a major private sector bank headquartered at Thrissur in Kerala, India.

The private lender reported a net profit of Rs 115.35 crore in Q1 FY23, steeply higher than net profit of Rs 10.31 crore in Q1 FY22. Total income declined 10.4% YoY to Rs 1,868.15 crore during the quarter.

Previous News
  South Indian Bank revises MCLRs
 ( Corporate News - 16-Jan-24   19:11 )
  South Indian Bank to consider fund raising on Jul 30
 ( Hot Pursuit - 24-Jul-24   08:55 )
  South Indian Bank announces board meeting date
 ( Corporate News - 09-Jul-24   09:53 )
  South Indian Bank to hold board meeting
 ( Corporate News - 24-Jul-24   10:15 )
  Board of South Indian Bank recommends final dividend
 ( Corporate News - 12-May-23   11:10 )
  South Indian Bank to convene AGM
 ( Corporate News - 01-Aug-23   14:19 )
  South Indian Bank schedules board meeting
 ( Corporate News - 03-May-23   11:35 )
  South Indian Bank revises MCLR across tenors
 ( Corporate News - 19-Feb-21   18:00 )
  South Indian Bank acquires 5.5% stake in IBBIC
 ( Corporate News - 27-Jul-21   13:08 )
  South Indian Bank announces board meeting date
 ( Corporate News - 14-Jul-21   13:55 )
  South Indian Bank standalone net profit rises 1523.38% in the September 2018 quarter
 ( Results - Announcements 15-Oct-18   17:10 )
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