South Indian Bank has entered into strategic partnership with Religare Securities to offer online trading platform to its customers. Under this partnership, the bank's customers will get savings and depository accounts along with Religare's online trading account. It will form part of a convenient 3 in 1 account for the bank's customers (savings account, demat account and trading account). The bank’s partnership with Religare is a one of the step to provide the whole range of financial products to its valuable customers under one roof. This alliance will enable the bank to expand its bouquet of capital market related facilities for its customers.
The bank’s net profit for the quarter ended June 30, 2014 rose by 10.28% at Rs 126.65 crore as compared to Rs 114.84 crore for the quarter ended June 30, 2013. Its total Income increased by 9.15% to Rs 1465.84 crore for the quarter under review from Rs 1342.88 crore for the corresponding quarter of the previous year.
