South Indian Bank shares crack 19% as CEO declines reappointment
South Indian Bank stock fell as much as 18.6 per cent during the day to ₹36.06 per share, the lowest level since October 20, 2025
 "South Indian Bank shares crack 19% as CEO declines reappointment")
Shares of South Indian Bank Ltd. tumbled nearly 19 per cent on Friday, the lowest in three months, after its Managing Director (MD) and Chief Executive Officer (CEO) decided not offer himself for reappointment to the position.
South Indian Bank stock fell as much as 18.6 per cent during the day to ₹36.06 per share, the lowest level since October 20, 2025. The stock pared losses to trade 13 per cent lower at ₹38.5 apiece, compared to a 0.63 per cent advance in Nifty 50 as of 11:22 AM.
Shares of the company fell for the third straight session and currently trade at 8.9 times the average 30-day trading volume, according to Bloomberg. The counter has risen 1.3 per cent this year, compared to a 3.5 per cent decline in the benchmark Nifty 50. South Indian Bank has a total market capitalisation of ₹10,141.47 crore CATCH STOCK MARKET UPDATES TODAY LIVE
Why are South Indian Bank shares down?
South Indian Bank's shares fell after the lender’s CEO declined to be considered for reappointment following his term's scheduled completion on September 30, 2026. The MD and CEO P R Seshadri has decided to pursue personal interests, the company said in an exchange filing.
The bank said it will take necessary steps to identify successor and will aim to complete the appointment process that includes obtaining approval from Reserve Bank of India (RBI) and shareholders. ALSO READ | Canara Bank shares extend slide after Q3 results; Antique downgrades stock
South Indian Bank Q3 results recap
The bank’s consolidated net profit came in at ₹374.48 crore, as compared to ₹342 crore a year ago, up 9.4 per cent. Its pre-provisioning operating profit for the December quarter was up 10 per cent to ₹584.33 crore, as against ₹528.84 crore a year ago.
Non-interest income increased from ₹409.22 crore to ₹485.93 crore, registering a growth of 19 per cent on year-on-year (Y-o-Y) basis. Gross non-performing asset (NPA) reduced by 163 basis points (bps) from 4.3 per cent to 2.67 per cent on Y-o-Y basis.
Net NPA dropped by 80 bps to 0.45 per cent from 1.25 per cent on Y-o-Y basis. Provision coverage ratio (PCR) excluding write off increased by 1,177 bps to 83.5 per cent from 71.73 per cent Y-o-Y.
Gross Advances to ₹96,764 crore from ₹86,966 crore, up 11 per cent on Y-o-Y. Gold loan portfolio grew to ₹21,303 crore, up 26 per cent on Y-o-Y, from ₹16,966 crore.