In the board meeting held on January 29, 2026, Seshadri informed the board of directors of the bank that he has decided to pursue activities of his personal interest after completion of his current term.
Also Read | Equity and MF share in household savings jumps from 2% to 15%, SIP contribution soar 7x: Economic SurveyHe will continue in the office of the Managing Director and CEO till the completion of his current term, that is, up to September 30, 2026.
Following this announcement by Seshadri, the Board decided to take necessary steps to identify a successor for the position of Managing Director and CEO and further resolved to do the needful to complete the appointment process, including obtaining approval from the Reserve Bank of India and shareholders of the Bank in due course after identification or shortlisting of suitable candidate(s).
The bank, on January 15, announced its Q3 results, which showed healthy profit growth and an improvement in asset quality. The bank reported a net profit of Rs 374 crore for Q3, up 9.4% from Rs 342 crore in the same period last year.
This growth was supported by a 10.4% rise in operating profit to Rs 584 crore from Rs 529 crore, driven in part by a 19% jump in non-interest income to Rs 486 crore.
Net interest income, the core income from lending activities, also rose marginally by 1.3% to Rs 881 crore.The bank’s loan portfolio expanded 11% year on year to Rs 96,764 crore, reflecting robust growth across multiple segments. Corporate loans rose 10% to Rs 38,353 crore, while gold loans surged 26% to Rs 21,303 crore.
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In the last two weeks, the shares of South Indian Bank declined by 14.52%. Over a longer horizon of three years, the shares have surged by 137%, while over the last five years, they have risen by 394%.
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