South Indian Bank has launched new deposit scheme - SIB 750 by film star Mammootty, the bank’s brand ambassador. The bank has introduced this new deposit scheme to commemorate the 750th branch opening. The SIB 750 assures interest rates of up to 10.10%, as a limited period deposit scheme.
One of the earliest banks in South India has inaugurated its 750th Branch and 787th ATM at Pallikkara in Ernakulam District. SIB Travel Card, another innovative offering from the bank was also launched at the function.
The bank has reported 25.44% rise in its net profit at Rs 128.25 crore for the quarter as compared to Rs 102.24 crore for the same quarter in the previous year. Total income of the bank has increased by 18.98% at Rs 1193.91 crore for quarter under review as compared to Rs 1003.47crore for the quarter ended December 31, 2011.
