Archive · 30 Jan 2026
South Indian Bank shares drop 19% after CEO's exit announcement
The shares of South Indian Bank dropped a lot on Friday because the bank's CEO, P R Seshadri, said he won't stay after his current term ends in September 2026.
The bank is now looking for a new CEO.
Even though the bank made more money this year compared to last year, the news about the CEO leaving made people worried and they sold their shares.
The bank's bad loans also went down, which is good news.
The bank's board will need to find a new CEO and get approval from the Reserve Bank of India and the shareholders.
South Indian Bank shares fell 18.66% to Rs 36.01 after CEO P R Seshadri announced he won't seek reappointment.
Seshadri will continue as CEO until September 30, 2026, and the board has started the process to find a successor.
The bank reported a 9% year-on-year increase in net profit to Rs 374.32 crore for the December quarter.
Gross non-performing assets (NPAs) declined to 2.67% of gross loans, and net NPAs fell to 0.45%.
Gross advances grew 11% year-on-year, and retail deposits increased 13% compared to the same period last year.
- Who
- South Indian Bank Ltd and its CEO P R Seshadri
- What
- Shares of South Indian Bank fell 18.66% after the CEO announced he will not seek reappointment
- When
- January 29, 2026
- Where
- Thrissur, India
- Why
- The CEO decided to pursue personal interests and the bank's board is identifying a successor
- Bank Name
- South Indian Bank Ltd
- CEO
- P R Seshadri
- Share Price Drop
- 18.66%
- Lowest Share Price
- Rs 36.01
- Current Term End
- September 30, 2026
- Net Profit Increase
- 9% YoY
- Gross NPAs
- 2.67% of gross loans
- Net NPAs
- 0.45%
