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South Indian Bank
SectorBanks
In the news
South Indian Bank targets 16% loan growth; ICICI Securities sets ₹63 target
South Indian Bank appoints Mahesh Pai as new MD & CEO
South Indian Bank appoints Mahesh Muralidhar Pai as MD & CEO
South Indian Bank Q1 FY25: Profit Growth, NII Expansion & Asset Quality Turnaround
Company insights, generated from the most recent coverage.
New loan book GNPA of just 0.38% for loans originated since October 2020 is the cleanest evidence that underwriting, not just recovery, drove the asset-quality turnaround. It supports a higher through-cycle RoA assumption than the headline 1.38% GNPA alone justifies.
FSIB flagged Pai in 2022 as a future public-sector bank leader. A regulator-sanctioned name lowers governance and regulatory-friction risk during a fragile turnaround — a real discount factor previously embedded in the stock.
Six-month return of +39.30% beats Federal Bank (+22.30%) and City Union Bank (+25.39%), yet the valuation gap to both has barely narrowed. The market has paid for the turnaround but not yet for the new management.