The South Indian Bank Share price

HISTORY AND CERTAIN CORPORATE MATTERSOur HistoryThe Bank was incorporated on January 25 1929 under the Companies Act1913 by a group of prominent enterprising citizens of Thrissur Town inKerala and became a scheduled bank in 1946.Over the years SIB has steadily grown and now has a network of 432branches including 5 satellite branches 59 Extension Countersspanning 17 states and 2 Union Territories. SIB currently has 137 ATMswith a card base of 198622. All these ATMs both on-site and off-siteconnected to the centralised Date Centre provide 24 hours on-linefacility to customers.SIB has been following a policy of upgrading technologies expandingand modernizing its network of branches to meet the growing demands ofcustomer service and reach. SIB has implemented the "Finacle" acentralised Core Banking Solution (CBS) of Infosys Technologies Limitedin 276 branches and 21 Extension counters spread all over the country.All the major centres in India have already been covered under thisproject. SIB has already made available Internet Banking Facility toits valued customers. It has a network of 13 NRI branches to cater tothe needs of Non-resident Indians.The Foreign Exchange Department and two specialised overseas branchesof SIB have ventured successfully in financing of imports exports andalso providing foreign currency loans.SIB is the first amongst all the private sector banks in Kerala to opena Currency Chest on behalf of Reserve Bank of India. We now have 3currency chests at Coimbatore Kozhikode and Thrissur.A team of dedicated and qualified staff is managing the day-to-dayaffairs of SIB. In order to keep its employees abreast of the changesin banking and trade scenario SIB regularly conducts staff Trainingprogrammes through its own staff training college. In addition SIBdeputes its officers for training at Banker's Training College MumbaiNational Institute of Bank Management Pune etc.SIB successfully completed its initial public issue in October 1998which led to increase in paid up capital to Rs. 350 million and inOctober 2004 a rights issue of shares was completed to augment itspaid up capital to Rs. 476.8 million.Key MilestonesYear Milestone1929 South Indian Bank was established at Thrissur Kerala1941 First branch outside Kerala (Coimbatore) was opened.1946 First Private sector bank in Kerala to become scheduled bank1963 Take over of assets and liabilities of Kshemavilasam Banking Co. Limited and The Ambat Bank Pvt. Limited Chittur Kerala.1964 The following banks were taken over:- * Public Bank Limited Pudukad * Suburban Bank (P) Limited Thrissur * Vijayalakshmi Bank (P) Limited North Parur * Chalakudy Bank Limited Chalakudy * Mukkattukara Catholic Bank Limited Mukkattukara * Assyrian Charities Banking Co. Limited Thrissur * The Catholic Syrian Christian Bank Limited Kanjani * Malabar Bank Limited Thrissur * Bharata Union Bank Limited Thrissur * Kozhuvanal Bank Limited Kozhuvanal Business of the Bank crosses Rs.100 million.1970 The business of the Bank crosses Rs. 250 million1977 The business of the bank crosses Rs. 1000 million mark1986 Total business crosses Rs. 5000 million.1990 The Bank made an entry into merchant banking activities by supporting/underwriting 99 new issues.1992 The Bank was selected by RBI to open and operate a currency chest on its behalf the first private sector bank in Kerala. The first private sector bank to open NRI branch. The first among the Kerala based banks to offer credit card to customers. Total business crosses Rs. 10000 million mark1993 The first Bank in the private sector to start an Industrial Finance Branch.1998 Bank went public with an IPO.2000 The business of the Bank crosses Rs. 50000 million.2001 The Bank launched its comprehensive and centralized banking solutionSibertech which will run on Finacle platform provided by InfosysTechnologies Bangalore. The Bank entered into alliances with threeexchange houses in the Gulf.2002Ties up with Insurance player for the distribution of the products ofthe insurance company. Sets up an ATM in Kovai which is the firstonline ATM outside Kerala.2003Launches Internet Bank Facility Sibernet. Enters into an agreementwith Master Card International to launch Maestro the Global ATM/ Debitcard. Total business crosses Rs. 100000 million mark.2004 Celebrated 75 years of existence