South Indian Bank S Credit Rating Upgraded To Care A Stable Outlook

Top Stories

Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

Stock chart

South Indian Bank's credit rating upgraded to CARE A+; Stable outlook

ri-calendar-2-lineSep 29, 2023

By: BlinkX Research Team

FbkFbkTwitterTelegram

CARE Ratings Limited has upgraded the credit rating of South Indian Bank's Basel III Tier 2 debt instruments, amounting to ₹1,290.00 Crores, from CARE A (Stable) to CARE A+ (Stable). This positive revision in the ratings is attributed to several key factors.

 

The upgrade reflects South Indian Bank's improved profitability during FY23, with the bank reporting a profit of ₹775 crores compared to ₹45 crores in FY22. Notably, the return on total assets (ROTA) saw a significant improvement, increasing from 0.05% in FY22 to 0.75% in FY23.

 

Furthermore, the bank's focus on higher-rated corporates and the gold loan segment has led to a reduction in risk-weighted assets, thereby strengthening its capitalization levels. As of March 31, 2023, the capital adequacy ratio (CAR) stood at 17.25%, up from 15.86% in the previous year, and CAR remained robust at 16.49% as of June 30, 2023.

Related News

News Thumbnail
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

News Thumbnail
Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

News Thumbnail
Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

News Thumbnail
Company

NBCC Arm Gets Two Construction Projects Worth Rs 443.61 Cr

4 mins read. August 2, 2024 at 12:33 PM

Related Blogs

Stock chartDemat Account

Biggest Winners and Losers in MSCI: Key Movers in Global Indices 2025

0 people read

3 mins read . Aug 20, 2025

Stock chartMutual Fund

What MF Big Boys Bought and Sold – Top Mutual Fund Stock Activity in 2025

0 people read

8 mins read . Aug 18, 2025

Download app

Access BlinkX
everywhere
across device

Join the Future of Trading

with BlinkX

#ItsATraderThing

Open Trading Account
Verify your phone
+91
*By signing up you agree to our terms & conditions