Background: South Indian Bank (SIB), among the mid-sized banks in the private sector space, operates a network of about 805 branches and about 1063ATMs. With about half of its branches located in Kerala the bank's business is largely skewed towards the Southern state. SIB has established a strong brand recall among the Keralite-NRI Diaspora. With no identifiable promoters SIB is run by a team of professionals. A slew of FII's hold a ~32% stake in the bank. As of 3QFY15the bank had deposits of ~INR 484bn and a loan book of ~INR 364bn. The bank is among the better capitalized banks in the industry with a Total CAR of 11.4%. Gross NPAs were...