ela DDE th DEPT: SECRETARIAL, REF No, SEC/ST EX.STT/6Q /2016-17 January 11,2017 BSE Ltd, Corporate Relationship Department, First Floor, New Trading Wing, Rotunda Building, P J Towers, Dalal Street, Fort, Dear Sirs, Sub: Submission of unaudited Financial Results for the quarter ended 31° December, 2016 ‘As required under the Listing Agreement entered into by us with your Stock Exchange and as per Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015, we submit herewith the unaudited Financial Results of the Bank for the quarter ended 31st December, 2016 which was approved and taken on record by the Board at its meeting held today, the 11"" day of January, 2017. We also enclose a copy of the “Limited Review Report” submitted by M/s. Deloitte Haskins & Sells, our Statutory Auditors, for the quarter ended 31st December, 2016. Yours faithfully, 4 (IMMY MATHEW) COMPANY SECRETARY Encl: ala The South indian Bank Lid,, Regd. Office: Thrissur, Kerala| Head Office: $.18, House, TB. Road, PB No. 28, Thrissur - 680 001, Kerala. (Tel) 0487-2420 020, (Fax) 91 487-244 2021 ‘exmal. sibeorparate@sib.co.in, CIN: L65191KL1929PLC001017, Tollfree (India) 1800-843-1800, 1800-425-1809 (BSNL) Web: www. southindianbank.comelie INDIAN Bank UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31" DECEMBER 2016 (Rin Lakhs) ‘Nine Months ended J Vear ended Particulars SEI BiARIOS] 31.12.2046] 31.12.2013] 31.03.2016 Unaudited] Unaudited] — Unawdted ‘Audited Tees earned (=) +) 710) * 147.896) 145,018) 140,766) 437,637] 555.720 (@)Interestéscount on advancesfills 11249] 111393 335,159] 436399 () Income on investments 30905] 294618) 189,955 100,778 (€) Interest on balances with Reserve Bank of 85 331 1457] 287 India apd othe interbank funds (€) Others asst] 3.676 sor] 11,066] 15,706 |2 other income 2sssi] 14590] 15392] 57,785] 5174 3. Toa income (142) 173747] 139.608] 156098] 495,221 607462 |. loterest expended 1,00.500] —1,00,094) 3.14.04 404750 5. Operating Expenses (i+ (i) ron] 29374] 23,697] 88,039| 14784 (Employees cost irate 16,786 isas7| 1032] ons (3) Other operating expenses 12390] 261s] 11.240] 37,007] 45599 6. Toxl expenditure (4}(5) exchadng provisions and 136050] 129874] 129791] 4nz043} 5.19534 contingencies 1. Operating Profit here provisions and contingencies(3)-(6)| 37.697] 29.734) 26.307] 93.373] sas] 7.928 8. Provision (ther than tax) and contingencies 20663] 12833] 1063944907] 28,337] 30962 9. Exceptional ers | | + : z 10 Profit from Ordinary activites before tax (TH8}9) 17934) 16901 15668] 4847240302] —50.966 11-Tax expense 5396] | ssos] 16.776) 14332] 174639 12.Net Prof rom Ordinary activities ater tax (10)411) 11138] 11082] 0,163] anés] 2630] 38.27 13, Era ordinary items (Net of Tax Expense) | | + | 4 = 14. Net Profit foe he period (1213) 11052| 3166] 26030) 333327 15. Paid up Equity Share Capital (Face Value & 1) 13.506 13si7] 13a] 13.803, 16, Reserves excluding revaluation reserves 357.328 17. Analytical Ratios i) Percentage of shares held by Government of India Ni il Nil nil Nil i) Capital Adequacy Ratio(%6) - BASEL IL 113} 110) 1.05] site| 1182 Si) Earnings Per Share (EPS) (@) Bosc EPS - before and afer Extraordinary items ®)* 082] 075} 235 193 aan (©) Diluted EPS - before and afer Extroondinary items (%)* 0.75} 4 193 at W)NPA Ratios (a) Gross NPA raoger] 1.78698] togni] 156,236 NetNPA 1irse6] T1898] 118,526 (8) %ofGross NPA 396] 398 275 377 ‘ofNetNPA 27) sd 282 180 289) ¥) Return on Assets (Annualised) 0.6) 066| 063 oss, oss, * QuarierbNine months rambers.are not armealised — ‘The South Indian Bank Ltd., Regd. Office: Thrissur, Kerala Head Office: S18. House, T.8. Road, PB No. 28, Thrissur - 680 001, Kerala, (Tel) 0487-2420 020, (Fax) 91 487-244 2021 ‘e-mai: sibcorporate@sip.co.in, CIN: L65191KL1929PLC001017, Tol free (India) 180-843-1800, 180-425-1809 (BSNL) Web: www.southindianbank.comSeqmentwise Results [ein Las ‘Quarier ended ine Months eaded | Var ended Trina | soe9206 | SrieIOS | Hz2016 | F1.12201S | 31032016 Lnsudited] — Unaudited] — Unaudited] — Unaudited] — Unaudited] — Audited Segment Revenue 2) Treaury suo asso) sass] as. 1.20396 'b) Corporat! Wholesale Banking raiss]—e3.on1] 72897] 2 osss] sacs) 283612 «) Rel Banking szo0]—s0g33)— e733] 1420] azt2s] 189.238 4) Other Barking Operations sa 34) 305] "238 5758] 14029 Total 173747] 19,608] 186098] 498.22] 486708) 607462 Lest: Inter = segment Revenue , : + 4 Z Te Income fom Operations Tarai] _1sa0s] 1568 aml asia] aor [Segment Rests (ne of proviions) 2) Treasury isn] 19s} aan] 8370) »)Corporate/ Wholesale Barking sss] co) aa] 11839 «) Rew Banking 12206 38497] 27248] 36,128, 4) Other Banking Operations 247s). mais) 11378 ‘Total 15665) asa7o]_ a 30q] 50966 Less unaleated expenditure , : z A Profi Before Tax 1566s a8ara| —oseal s0506 [5 Seament Assets 4) Treasury sg9ag01] 16.71697| 1387860] 1893901] 1387800] 1586704 ») Corporate! Wholesale Banking 31589309] 3021,667] 2899,007|31.89,309],28.09,007]_29.19.793, ©) Reail Banking issrao] —1838502| 1662022] 1887410 162.02] 1709.36 4) Other Banking Operations ; , ‘ : , : 2) Unallocated 203973] _1s6si3]|__ 147984] 203973] ergs] 161.066 “Total 71.4493] 6718379] 6026873] 71,4459] 0026873] 63.47.45, [Segment abies a) Tresury 1798499] 1582,176| 13.0536] 1795.45) 1467999 b) Corporat! Wholesale Banking 3029324] 288,777] 26380883] 3029,304 2781073 «) Real Banking isp732s) 1787647] 1ss6aie| 1807223] 1628602 4) Other Banking Operations | ; | | ) Un allocated sess] 73s] oo.a7]__sasa] oar] as Tou 16935] 62,189] Seai.s9i] 6716935] Soangvi] 33.295, 3 Capital Employed {Segment Assets- Segment Liabilities] 1) Treasury ysano] saat] 82493) s2493] 88,798, ) Corporte/ Wholesale Banking 1299as| 132890] 128,124 rasa] 138720 «) Ret Banking 0.182) Boss] 75305) os30s] “31234 4) Other Banking Operations f ‘ : | . 1) Unallocated 119009) 112924] 98.57} sass] 75444 Ts 427.658] 416,100] asa9a] _ax7se] asaea| 541093, For fe dove segment poring. the Feperable segments ae Wentifed io Treasury, Corporse/Wholesale Banking, Real Banking and OWer Banking ‘Operations in Compliance withthe revised RBI Guidelines. The Bank operas in ind The South Indian Bank Ltd., Regd. Office: Thrissur, Kerala Head Office: S.1.B. House, TB. Road, PB No. 28, Thrissur - 680 001, Kerala. (Tel) 0487-2420 020, (Fax) 91 487-244 2021 _sibcorporate@sib.co.in, CIN: L65191KL1929PLC001017, Toll free (India) 180-843-1800, 180-425-1809 (BSNL) Web: www.southindianbank.comLLU Lyre Era Notes: 1 The above Unaudited Financial Results forthe quarter and nine months ended December 31,2016 were reviewed by the Audit Commitee ae recommended for approval to and approved bythe Board of Directors tits meeting held on Janusry 11, 2017. These Results have been subjected o "Limited Review’ bythe ‘Statutory Cental Autor ofthe Bank and an unqualified review report hasbeen issued 2 The working results forthe quarter and nine months ended December 31,2016 have been arrived ar considering the provision for standard eset including ‘equirement for exposures io entities with Unhedged Foreign Curency Exposure, non perfrming asses (NPAs), depreciation on investment, income tan and other usual and necessary provisions 53 The Bank has followed the same significant acountng policies inthe pepuation ofthe interim financial statements as those followed inthe annul franca statements forthe year ended March 31,2016 except the follwing ‘With effec fom 01.04.2016, in respex of accountng of swap cost petining to FCNR Deposits) Overseas Borrosrngs, Rank hes adopted amortisation method ove the period fap tenure, as agains the mark-ornarket method. This change in policy des not have any nancial impact over tefl period ofthe swap. ‘The impect ofthe change inthe policy as described above i reduction in profit ater tax by € 653 Lakhs forthe nine months ended 31st December, 2016 ‘Reduetion in Profit afer tx by ®286 Lakhs forthe Quarter ended 31st December, 2016). Had this policy been adopted in the previous year the epated ar ‘ax profit numbers forthe Quarter ended 31st December, 2015, Nine months ended 31st December, 2015 and the Year ended 31st Match 201, would have reduced by T181 Labs, £409 Lakhs and €164 Laks respectively 4 The Bank had asigned cern non-performing financial ass (NPAY) having a netbook value of € 19618 Laks during an earlier year and % 6116 Lakhs uring the carent quarter to Asset Reconstruction Companies. The Bank ha, in terms of RBI Circular DBOD No BP BC.921 04 48/2014-15 en "Paden ‘oes on income recognition, asset casifieation an provisioning pertaining to advances" dated uly 12014 a amended, spread the net short in ecovery of net book value of & 3319 Laths inrespect of NPAs asigned during an earlier Your over a period of two year and in temmt of RAI Circular DBR No BP.BC. 102/21 04.088/2015-16 on "Pradental noms on incame recogaition, ast casfcation and provisioning pertaining fo advances - Spread Over ‘of Shoal on Sale of NPAS to SCVRCs* dated June 13,2016 spread the met shorl in recovery of net book vai of 6 Lakhs inespect of NPA assigned uring the current quar over a period of fur quarters In respect of such assignments, an amount of € 727 Lakhs / 1918 Lakhs hasbeen charged tothe profit and lass acount during the quater / ine months ended December 3, 2016 and the unamorised balance cared forward as at December 31,2016 is €972 Lakhs 5 During the curene quarter, bank denied a Non Performing Advance as fraud case and has provided 25% ofthe oustanding netbook val. The balance remaining amount of T4682 Lakhs will be provided during the next three quarters in equal isalments as perited by the RBI in socodance wih DBR NoBPBC92/21,04 048/2015-5 dated Api 18,2016 6 During the quarter / nine months ended December 31,2016, the Bank alloted 1120990 / 1429209 shares, pursuant to the exercise of sock option by cerain litle employees 7 Porsvant o RBI Circslar FMRD DIRD.10/1403.00272015-16 dated May 19,2016, e amended, the Bank has with eft from November 26, 2016 considered ts epo/reverse reo ransations under Liquidity Adjustment fly (LAF) and Marginal Standing Facility (MSF) of RBI as Borowings/Lendings, es the case may ‘be Hitherto, the repo reverse repo transactions were included under Invesimens Figures forthe previous periods have been reroupedteclased to conform 10 ‘arent eric clssiication. The above regrouping! rectification has no impact n the profit ofthe Bank for he Guatr/ Nine Months ended 31st December, 2016 othe previous periodsyear 8 In accordance with the RBI Circular DBRNo.BP-BC.1/21.06201/2015-16 on Basel Il capital regulation dated July 1, 2015 and RDU ciclar BRNO BP BC.071.06201/2014-1 dated March 31,2015 on prudential guidlines on Capital Adequacy and Liquidity Slandas amendments, Banks ate required to make Pilla I disclosures inctung leverage ratio and liquidity coverage rato uder Basel Il famework. The Bank has rade these disclosures ‘hich are avalable on ts webst atthe Following lin. hhup/iwww souhindiankank com/content/vewContentil aspeinkldL 2-854 ikl I3-SS08inkKEBR0 ‘These disclosures have not been subjected to. limited review bythe Sattry Cental Aton 9 In acordance wit the RBI Circular DBR No BP BC-8321.06.201/2015-16 on Bas! Il capital repulsion dated March 1, 2016, during the quarter ended June 30,2016 the Bank has valued its premises and has recognised an amount of © 11374 Laks as Revaluation Reserve and incloded € 5118 Lakhs under Tet | Capital ata giscoun of 59% thereon, 10 Other income includes fes eared fom providing services to customers, comission from non-fund based banking activites, earnings fom ferign exchange ‘tansactons, selling of Third prt prods, profiles on sale of investments (et), recoveries fam accounts writen off 11 Previous pris years figures have been regrouped, wherever necessary ta conform othe current period's easifcation _——— Kochi VG Mathew January 11,2017 (Managing Director & CEO) (DIN : 05332797) ‘The South Indian Bank Ltd., Regd. Office: Thrissur, Kerala Head Office: $8. House, TB. Road, PB No. 28, Thrissur - 680 001, Kerala. (Tel) 0487-2420 020, (Fax) 91 487-244 2021 ‘e-mail: sibcorporate@sib.co in, CIN: L65191KL1929PLC001017, Toll free (India) 1800-843-1800, 1800-425-1809 (BSNL) ‘Web: www.southindianbank.comDeloitte Haskins & Sells crete ‘st oor, Warlam Road Koch = 82 018 INDEPENDENT AUDITOR'S REVIEW REPORT ON india REVIEW OF INTERIM FINANCIAL RESULTS ‘et +91 (4s) 2359 694 Fax 91 (484) 2380 098 TO THE BOARD OF DIRECTORS OF THE SOUTH INDIAN BANK LIMITED 1, We have reviewed the accompanying Statement of Unaudited Financial Results of THE SOUTH INDIAN BANK LIMITED ("the Bank”) for the Quarter and Nine Months ended 31° December, 2016 ("the Statement”), being prepared and submitted by the Bank pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, except for the matters set out in paragraph 6 below. This Statement which is the responsibility of the Bank's Management and approved by the Bank's Board of Directors, has been Prepared in accordance with the accounting principles generally accepted in India along with the recognition and measurement principles laid down in Accounting Standard for Interim Financial Reporting (AS 25), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder in so far as they apply to the Banking Companies and circulars and guidelines issued by the Reserve Bank of India (RBI) from time to time. Our responsibility is to issue a report on the Statement based on our review. 2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’, issued by the Institute of Chartered Accountants of India, This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Bank's personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion. 3. In the conduct of our review, we have relied on the reports in respect of non- Performing assets received from concurrent auditors of 165 branches, specifically appointed for this purpose. These reports cover 72 percent of the advances portfolio of the Bank. Apart from these reports, in the conduct of our review, we have also relied upon various returns received from the branches of the Bank. 4, Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid Accounting Standards along with the other accounting principles generally accepted in India in so far as they apply to the Banking Companies and Circulars and guidelines issued by the RBI from time to time, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that the financial results for the quarter and nine months ended 31* December, 2016 contains any material misstatement or have not been prepared in accordance with the relevant prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters.Deloitte Haskins & Sells 5. Attention is drawn to: ) ii) Note No.4 of the Statement regarding deferment of shortfall arising from the sale of certain non-performing assets during an earlier year / current quarter in terms of RBI Master Circular DBOD.No.BP.BC.9/21.04.048/2014-15 on Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to advances, dated July 1, 2014, as amended / RBI Circular DBR.No.BP.BC.102/21.04.048/2015-16 on Prudential norms on income recognition, asset classification and provisioning pertaining to advances ~ spread over of shortfall on sale of NPAs to SCs/SRs dated June 13, 2016 respectively and the unamortised balance as at 31° December, 2016 of Rs.972 Lakhs. Note No.5 of the Statement regarding deferment of provisioning pertaining to a fraud account during the current quarter in’ terms = of REI Circular DBR.No.BP.BC.92/21.04.048/2015-16 dated April 18, 2016 and the unamortised balance as at 31* December, 2016 of Rs.14,682 Lakhs. ur conclusion is not modified in respect of these matters. 6. The “Pillar 3 disclosures, leverage ratio and liquidity coverage ratio under Basel III Capital Regulation” as set out in Note 6 of the accompanying Statement have not been subjected to our review. Kocut, For DELOITTE HASKINS & SELLS Chartered Accountants (Firm's Registration No. 0080725) Sola Bewinen S, Sundaresan Partner (Membership No. 25776) JIE sanuary, 2017.