Key Highlights :
1. South Indian Bank, post the onboarding of new MD Murali Ramakrishnan, reimagined its business model and adopted 6Cs strategy which focuses on – CASA, cost ratios, customer focus, capital, compliance and competency building.
2. The bank also realigned organisational structure by setting up a separate operations team for asset and liability, segregating underwriting and business functions, strengthening capabilities in digital, risk management and analytics with focus on mitigating frauds and improving collections.
3. ICICI Securities has maintained its Buy rating on the multibagger stock with a target price of ₹ 25 per share. While the new management was focused on building granular quality asset book, it remained equally focused on building retail liability base. Hence, to bring in sharper focus on deposit mobilisation, it introduced a concept of Clusters – each region will have 5-6 clusters and each cluster will handle 8-9 branches.
4. The banking stock has gained over 133% in a year's period. MINT PREMIUM See All Premium How China Inc is tackling the TikTok problem Premium The economics of censoring Roald Dahl Premium Top performing midcap stocks of 2023 so far Premium When Parag Parikh's wife stepped up to help him become ...
South Indian Bank (SIB) is reimagining its business model and adopting 6Cs strategy which focuses on – CASA, cost ratios, customer focus, capital, compliance and competency building. ICICI Securities has maintained its Buy rating on the multibagger stock with a target price of ₹ 25 per share.
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