Under the leadership of Non-Executive Part-time Chairman Jose Joseph Kattoor, who assumed office on March 23, 2026, after serving over 30 years at the Reserve Bank of India, South Indian Bank reported gains in profitability and asset health. The 97-year-old lender reached its highest-ever net profit of ₹1,455 crore in FY26, climbing from ₹1,303 crore in FY25 and ₹1,070 crore in FY24. Gross advances crossed the ₹1 lakh crore benchmark for the first time, reaching ₹1,00,274 crore. Gross non-performing assets dropped to 1.38% as of June 2026 from 3.15% in the same period last year, while net NPAs touched a low of 0.29%, reflecting balance sheet recovery.
Currently headquartered in Thrissur, Kerala, the institution operates 953 branches, with 53% located in its home state. Kerala accounts for 29% of the bank's ₹1.04 trillion loan book, while other southern states represent 33% and the rest of India comprises 38%. To diversify beyond its regional concentration, management is planning to establish a stronger national presence across Maharashtra, Gujarat, and the National Capital Region, alongside expanded branch networks in Karnataka, Andhra Pradesh, and Telangana.
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In addition to geographic scaling, the bank is preparing to launch standalone credit cards alongside its existing co-branded options, while introducing a wealth management division tailored to younger retail clients. Asset quality metrics show the slippage ratio dropped to 0.72% for FY26—and 0.15% in the fourth quarter—while overdue SMA-2 loans fell to ₹182 crore. The bank currently trades at 1.11 times its book value, compared to regional peers including Karnataka Bank at 0.96 times, Tamilnad Mercantile Bank at 1.32 times, Federal Bank at 1.98 times, and City Union Bank at 2.12 times.
