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
 ( Analyst Meet / AGM - Conference Call 25-Jan-23   17:50 )
  South Indian Bank
 ( Analyst Meet / AGM - Conference Call 20-Jul-24   16:18 )
  South Indian Bank to announce Quarterly Result
 ( Corporate News - 09-Oct-23   16:48 )
  South Indian Bank hikes MCLR rates by 15-20 bps
 ( Hot Pursuit - 19-Aug-23   16:46 )
  South Indian Bank schedules board meeting
 ( Corporate News - 19-Dec-23   10:44 )
  South Indian Bank standalone net profit declines 87.37% in the June 2021 quarter
 ( Results - Announcements 22-Jul-21   18:45 )
  South Indian Bank reports standalone net loss of Rs 187.06 crore in the September 2021 quarter
 ( Results - Announcements 22-Oct-21   07:59 )
  South Indian Bank Q4 gross advances grow 11% YoY
 ( Hot Pursuit - 02-Apr-24   11:53 )
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 ( Corporate News - 12-Jan-21   16:34 )
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