South Indian Bank Ltd

Senior Management Changes

• Designation change: Anto George T becomes EVP & Chief Business Officer, effective Nov 1, 2026.
• Reason: operating/reporting structural changes; MRT designation per RBI; Profile: 58-year-old MBA, 30+ years banking.
• Designation change: Nandakumar G becomes Head- Banking Operations Group; effective Oct 16, 2026.
• Reason: operating/reporting structural changes; Profile: 54-year-old with 30+ years at SIB; ex HIA, CIV.
• Designation change: Vijith S to Head of Internal Audit; effective Oct 16, 2026.
• Reason: operating/reporting structural changes; Profile: CA, 20+ years; ex Head-Strategic Alliances.
• Designation change: Rekha V R to Chief of Internal Vigilance; effective Oct 16, 2026.
• Reason: operating/reporting structural changes; Profile: Engg; CFE; 22+ years in bank.

Corporate Office designation

• Corporate Office designated at SIB Tower, Rajagiri Valley P.O., near Infopark Expressway, Kakkanad, Ernakulam, Kerala 682039.
• Head Office and Registered Office remain unchanged at SIB House, Mission Quarters, Thrissur 680001.
• Board meeting held October 15, 2026; total duration 11:00 AM to 7:30 PM.
• No change to corporate structure beyond designation of Corporate Office.

Board outcome

• Board approved standalone and consolidated unaudited results for quarter/half year ended 30 Sep 2026.

Audited review status

• Limited Review Reports issued with unmodified opinion on the results.

Key metrics

• Basel III CAR at 30 Sep 2026: 19.40%.
• Quarterly basic EPS: 1.63; diluted 1.62.
• Half-year EPS: 3.07 (basic); 3.06 (diluted).

Regulatory disclosures

• Pillar 3 disclosures under Basel III not reviewed; disclosed on bank website.

Publication & record

• Results hosted on bank website and submitted to NSE/BSE.

Business Overview

• Scheduled commercial bank with diversified retail, MSME, and corporate lending.
• Digital transformation and NTB expansion to grow non-branch distribution.

Operational Highlights

• Q2FY27 standalone: NII 1,116 Cr; Total Income 1,584 Cr; NIM 3.33%.
• Deposits grew 19% YoY to 1,37,279 Cr; Advances up 20% to 1,08,388 Cr.
• CASA 31.55%; CRAR Basel III 19.40%; ROA 1.08%; RoE 14%.

Financial Performance

• Profit after tax: 426 Cr in Q2FY27; HY1 804 Cr.
• Operating profit 732 Cr; provisions 159 Cr; coverage 97.84%.
• Earnings per share: 6.1 Rs.; book value per share: 46.1 Rs.

Capital & Liquidity

• Borrowings decreased to 3,681 Cr from 6,647 Cr YoY.
• Cash & Balances with RBI: 8,705 Cr; Balances with Banks: 6,315 Cr.
• Deposits up 19% YoY to 1,37,279 Cr; Advances up 20% to 1,08,388 Cr.

Strategic Focus & Outlook

• MSME initiatives: expand ECG centres; NTB client acquisition; improve LOS.
• Digital banking expansion via SIB Mirror+, Finacle upgrade, and AI capabilities.
• Co-lending and partnerships; Loan against mutual funds; strategic alliances.
• AI Center of Excellence accelerates technology-led growth.

Risks & Mitigation

• Asset quality improving; GNPA 1.24%; NNPA 0.09%; slippages at low levels.
• Provisioning remains robust; PCR at 97.84% incl. W/off.

Governance & Leadership

• MD & CEO Mahesh Muralidhar Pai leads; strong management team.
• Senior leadership includes CFO, CRO, CIO; long-tenured governance.

Q2 FY2026-27 highlights

• Net profit for Q2 FY2026-27: Rs 426.13 crore, up 21.28% YoY.
• Net interest income: Rs 1,116 crore, up 37.95% YoY.
• Operating profit: Rs 732 crore, up 37% YoY.
• NIM improved to 3.33% from 2.80% YoY.
• GNPA improved to 1.24% from 2.93% YoY (169 bps).
• NNPA declined to 0.09% from 0.56% YoY (47 bps).
• PCR excl. write-off: 92.42%; PCR including write-off: 97.84% (YoY).
• Retail deposits: Rs 129,353 crore; NRI deposits: Rs 38,203 crore.
• CASA: Rs 43,310 crore; current deposits Rs 9,242 crore; savings Rs 34,068 crore.
• Gross advances: Rs 109,517 crore; corporate segment Rs 43,164 crore.
• Gold loan portfolio: Rs 26,603 crore; mortgage loans Rs 5,144 crore; vehicle loans Rs 2,648 crore.

Financial highlights

• Net Profit after tax: Rs 426.13 crore, up 21.28% YoY.
• Net Interest Income: Rs 1,116 crore, up 37.95% YoY.
• Operating Profit: Rs 732 crore, up 37% YoY.
• Gross NPA declined to 1.24% from 2.93% (169 bps) YoY.
• Net NPA declined to 0.09% from 0.56% (47 bps) YoY.
• PCR excl. write off: 92.42% (1133 bps YoY).
• PCR including write off: 97.84% (760 bps YoY).
• Retail Deposits: Rs 1,29,353 crore, up 14.85% YoY.
• NRI Deposits: Rs 38,203 crore, up 15.09% YoY.
• CASA: Rs 43,310 crore, up 18% YoY.
• Gross Advances: Rs 1,09,517 crore, up 18.67% YoY.
• Corporate Segment: Rs 43,164 crore, up 16.63% YoY.
• Gold Loan portfolio: Rs 26,603 crore, up 41.17% YoY.
• Mortgage loan: Rs 5,144 crore, up 30.92% YoY.
• Vehicle Loan Portfolio: Rs 2,648 crore, up 15.73% YoY.
• Large Corporate Segments rated A & Above: 99.10%.

Strategic commentary

• Strategy focused on profitability, asset quality, and resilient loan book.
• Digital initiatives to support growth and liability management.
• Onboarded new advances with low-risk profiles to balance credit portfolio.

Standalone results

• Board approved unaudited standalone and consolidated results for Q2 and H1 ended Sep 30, 2026, with unmodified review.
• Standalone Q2 PAT: 42,613 Lakhs; Basic EPS: 1.63; Diluted EPS: 1.62.
• ROA (annualised) 1.12% for the quarter; Basel III CAR 19.40% as of 30 Sep 2026.
• Paid-up capital: 26,195 Lakhs; stock option allotment: 14,37,644 and 19,35,803 shares.

Consolidated results & notes

• Consolidated results include subsidiary SIB Operations and Services Ltd; unmodified review.
• Results disclosed on bank website; Pillar 3 disclosures not reviewed.
• Stock option details noted: 14,37,644 and 19,35,803 shares allotted.

Meeting Details

• Date: September 29, 2026; meeting type: one-on-one virtual.
• Organizer/investor: Unifi Capital.
• Purpose: Investor interaction with management.
• UPSI: No unpublished price sensitive information shared.