Archive · 31 Jan 2026
South Indian Bank Shares Plunge 19% After CEO's Exit
The CEO of South Indian Bank, Mr. Seshadri, has decided not to renew his contract when it ends in September 2026.
This news made the bank's shares drop a lot, by 19%, in just one day.
The bank's shares went as low as ₹36.03, which is the lowest they've been in a long time.
Mr. Seshadri helped the bank grow a lot during his time as CEO.
The bank is now looking for a new leader.
People are worried about what will happen next, so they sold their shares, making the price go down.
South Indian Bank shares fell 19% in a single day, the steepest decline on record.
CEO PR Seshadri announced he will not seek reappointment after his term ends on September 30, 2026.
The bank's total business grew to ₹2.14 lakh crore as of Q3FY26, up from ₹1.63 lakh crore in FY23.
69% of the bank's loan book is from outside Kerala, up from 60% at the end of December 2023.
The board will initiate the process to identify a successor, requiring approvals from the RBI and shareholders.
- Who
- PR Seshadri, MD & CEO of South Indian Bank
- What
- Shares fell 19% after CEO announced he won't seek reappointment
- When
- Friday, after the announcement on Thursday
- Where
- South Indian Bank, based in Kerala
- Why
- Uncertainty about leadership transition and future strategy
- Stock Decline
- 19%
- Lowest Stock Price
- ₹36.03
- CEO's Term End
- September 30, 2026
- Bank's Total Business
- ₹2.14 lakh crore (Q3FY26)
- Loan Book
- ₹96,764 crore (Q3FY26)
- Branches
- 948
- CEO's Previous Role
- MD & CEO of Karur Vysya Bank