South Indian Bank Ltd. News and Updates

Name: Latest research reports of South Indian Bank Ltd. authored by Motilal Oswal and published by - Trendlyne research reports.
Item: South Indian Bank Ltd.
Rating: 5
Author: Motilal Oswal

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South Indian Bank Ltd.

21 Jan 2019

28.91

-0.03%

Asset quality concerns to ease; valuations reasonable

Buy: South Indian Bank Ltd.

Motilal Oswal

21 January 2019 Higher provisions dragged South Indian Banks (SIB) 3QFY19 PAT to INR838m (27% YoY decline) even as operating profit growth stood flat. Fresh slippages increased to INR6.59b led by downgrade of IL&FS; exposure (INR4b) and one EPC account (INR1.03b). But, slippages in retail and agri portfolio improved. Advances growth improved 15% YoY / 5% QoQ while margins improved 5bp QoQ to 2.66%. However, NII growth stood modest at 2% YoY / 2.6% QoQ. C/I ratio improved marginally to 53% mainly supported by other income (18% YoY growth). SIB is yet to provide for INR153m of unamortized MTM provision in the next quarter. Loan growth at 15% YoY was led by 29% YoY growth in pure retail loans while the corporate loan segment grew 14% YoY. The growth in agriculture/SME book stood relatively modest at 7%/6% YoY. Corporate book now comprises ~35% of the total advances.

South Indian Bank Ltd. is trading below its 30 day SMA of 29.3

South Indian Bank Ltd.

13 Dec 2018

28.91

-0.03%

South India Bank: Retail segment gaining focus

Buy: South Indian Bank Ltd.

Target

Motilal Oswal

Declining market share in its home state of Kerala has been a wake-up call for SIB. To recoup the recent loss in market share, SIB now aims to leverage its existing customer relationship by cross selling. The bank has constituted a separate 'business development channel' in addition to its existing branch network to speed up the sourcing of retail products.

South Indian Bank Ltd. has an average target of 38.67 from 3 brokers.

South Indian Bank Ltd.

23 Jul 2018

28.91

-0.03%

EARNING UPDATE- SIB-1QFY19

Buy: South Indian Bank Ltd.

Target

Chola Wealth Direct

Sector: Banking /Mid-Cap | Earnings Update 1QFY19 Background: South Indian Bank (SIB), among the mid-sized banks in the private sector space, operates a network of about 855 branches and about 1,386 ATMs. The bank's business is largely skewed towards the Southern state with half of its branches located in Kerala. SIB has established a strong brand recall among the Keralite-NRI Diaspora. With no identifiable promoters SIB is run by a team of professionals. As of 1QFY19 the bank had deposits of ~INR 725bn and a loan book of ~INR 562bn. The bank looks to add a...

South Indian Bank Ltd. is trading above its 200 day SMA of 26.9

South Indian Bank Ltd.

16 May 2018

28.91

-0.03%

EARNINGS UPDATE- SOUTH INDIAN BANK- 4QFY18

Buy: South Indian Bank Ltd.

Target

Chola Wealth Direct

Sector: Banking /Mid-Cap | Earnings Update 4QFY18 Background: South Indian Bank (SIB), among the mid-sized banks in the private sector space, operates a network of about 854 branches and about 1,382 ATMs. The bank's business is largely skewed towards the Southern state with half of its branches located in Kerala. SIB has established a strong brand recall among the Keralite-NRI Diaspora. With no identifiable promoters SIB is run by a team of professionals. As of 4QFY18 the bank had deposits of ~INR 720bn and a loan book of ~INR 551bn. The bank looks to add a...

South Indian Bank Ltd. has an average target of 38.67 from 3 brokers.

South Indian Bank Ltd.

16 May 2018

28.91

-0.03%

South Indian Bank

Buy: South Indian Bank Ltd.

Target

ICICI Securities Limited

South Indian Bank Ltd. has an average target of 38.67 from 3 brokers.

South Indian Bank Ltd.

15 May 2018, 12:00AM

28.91

-0.03%

South Indian Bank: Loan growth picks up; asset quality deteriorates marginally

Buy: South Indian Bank Ltd.

Target

Motilal Oswal

SIB's reported PAT was flattish QoQ (-1%), but grew 51% YoY off a relatively low base. PPoP declined 6% QoQ, led by a 6% QoQ increase in opex with sequentially flat total income. Provisions of INR1.49b (1.1% annualized credit cost) came in below our estimate, leading to an 815bp QoQ decline in PCR to 41.2%. The bank utilized RBI's dispensation to spread MTM losses and provided INR129.6m, leaving INR344m to be provided over the next three quarters. NII declined 3% QoQ (+12% YoY), even as advances rose 5.7% QoQ (+17.6% YoY), as the NIM contracted 15bp QoQ to 2.73% due to a 14bp sequential decline in reported spreads. Opex grew 6% QoQ (+22% YoY; the bank utilized RBI's dispensation to spread out gratuity provisions, leaving INR204.5m to be further provided). CI ratio increased to 53.7% from 50.6% in 3QFY18.

South Indian Bank Ltd. is trading above its 200 day SMA of 26.9

South Indian Bank Ltd.

18 Jan 2018

28.91

-0.03%

Result Update - South Indian Bank

Buy: South Indian Bank Ltd.

Target

Choice India

South Indian Bank (SIB) Q3FY18 result was in line with our expectations with strong performance on business as well as financial fronts. While the growth in NII and PAT improved significantly, advances of the bank rose by ~17% on the back of bank's renewed focus on retail and SME sectors. Quality of earning improved with GNPA reducing by 17 bps to 3.4% in Q3FY18 (3.6% in Q2FY18) and stressed assets watch list...

FII/FPI have increased holdings from 11.96% to 17.58% in Jun 2025 qtr.

Is South Indian Bank Ltd. worth buying?

1386 Votes:

Buy 81.82%

Sell 9.31%

Hold 8.87%

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