South Indian Bank is all set to open rights issue on February 28, while the issue will be closed on March 14. Last date of receipt of request for split application forms is March 7.
In December 2016, South Indian Bank’s board had approved issuing one equity share for every three equity shares held by shareholders on rights basis.
The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 3.98%, as compared to 2.75% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 2.52% in Q3FY17.