Kerala-based South Indian Bank announces 6Cs strategy for Vision 2024

While current growth trends remain muted due to the Covid-19 pandemic, the bank is optimistic of a revival in growth from Q1FY22 onwards

South Indian Bank has announced its Vision 2024, which will focus on 6Cs including capital, CASA, cost-to-income, competency building, customer focus, and  compliance. Capital remains one of the most important pillars of this strategy and SIB aims to shore-up its capital base over the near term. The bBank is planning to raise around Rs 750 crore during the current and the next fiscal to support growth. 

Murali Ramakrishnan, who recently took over as the new managing director and CEO, said that by 2023-24, the bank aims to reach a loan book of Rs 1 trillion (from Rs 65500 cr currently),