South Indian Bank has decided to augment Tier - II capital by issue of Subordinated Tier-II Bonds for a total face value not exceeding Rs 500 crore including Green Shoe option.
Recently, Reserve Bank of India (RBI) allowed Foreign Institutional Investors (FIIs) to buy shares in South Indian Bank as the foreign shareholding in the company has gone below the prescribed limit. Accordingly the restrictions placed on the purchase of shares of the bank are withdrawn with immediate effect.
South Indian Bank registered a fall of 37.78 % in its net profit after tax at Rs 87.93 crore for third quarter ended December 31, 2014 as compared to Rs 141.31 crore for the same quarter in the previous year. However, total income of the bank increased 9.92 % at Rs 1467.13 crore for Q3FY15 as compared Rs 1334.74 crore for the corresponding quarter previous year.
