South Indian Bank is reportedly aiming to garner more than double balance sheet size as well as profit by 2020. The bank has set a target of reaching to Rs 2 lakh crore business by 2020 from Rs 94,042 crore at the end of December and Rs 1,000 crore net profit from a mere Rs 307 crore in the fiscal 2014-15.
In this regard, the Kerala-based bank with over two-third concentration in the southern markets has hired International Finance Corporation to advise it on rejig and prepare a roadmap to achieve the targets.