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 to hold board meeting
 ( Corporate News - 15-May-24   16:02 )
  South Indian Bank to discuss results
 ( Corporate News - 12-May-21   11:01 )
  South Indian Bank standalone net profit declines 27.09% in the December 2018 quarter
 ( Results - Announcements 19-Jan-19   16:55 )
  South Indian Bank
 ( Analyst Meet / AGM - Conference Call 23-Oct-23   15:52 )
  South Indian Bank revises MCLRs across tenors
 ( Corporate News - 19-Mar-21   12:46 )
  South Indian Bank launches SIB - OneCard Credit Card
 ( Corporate News - 08-Sep-21   18:42 )
  South Indian Bank
 ( Results - Analysis 22-Jan-21   14:23 )
  South Indian Bank Ltd rises for third consecutive session
 ( Hot Pursuit - 30-Oct-18   13:05 )
  South Indian Bank announces board meeting date
 ( Corporate News - 26-Jul-23   11:28 )
  South Indian Bank standalone net profit declines 96.09% in the September 2017 quarter
 ( Results - Announcements 12-Oct-17   13:30 )
  South Indian Bank to hold board meeting
 ( Corporate News - 16-Nov-17   10:22 )
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