South Indian Bank, which provides retail, corporate and para banking services, has posted its investor presentation on January 18, 2017.
Going forward, the company intends to continue focusing on its retail and SME business through centralised marketing and processing centres; penetration into existing set of customers; speeding up sanctions for home, auto and MSME loans; and opening additional branches.
Amongst loans, the Bank intends to focus more on housing loans and will be opening a retail hub in Kochi, and later one hub each in South and North India. Company had reported 807 housing loan sanctions with amount hitting Rs 182 crore from October to December 2016.
Bank intends to become a banker of choice to the SMEs by opening ‘green channel’ branches for catalysing loan disbursal. Thereby, the bank will gain other allied businesses of liabilities and vehicle financing.
Stock View:
South Indian Bank Ltd is currently trading at Rs 21.2, down by Rs 0.05 or 0.24% from its previous closing of Rs 21.25 on the BSE.
The scrip opened at Rs 21.2 and has touched a high and low of Rs 21.3 and Rs 21.1 respectively. So far 516966(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2872.44 crore.
The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 25.55 on 07-Oct-2016 and a 52 week low of Rs 16.4 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs 21.85 and Rs 21 respectively.
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 50.36 % and 49.64 % respectively.
The stock is currently trading above its 100 DMA.
Source: Indianinfoline
