South Indian Bank has informed stock exchanges about credit rating actions taken by Infomerics Valuation and Rating Ltd on March 26, 2026. The rating agency has reaffirmed the bank's existing issuer rating while assigning a new rating for its fixed deposit programme.

Rating Details

Infomerics has taken two significant rating actions for the bank. The rating agency reaffirmed the bank's issuer rating at IVR AA/Stable, maintaining the same level as the previous rating. Additionally, Infomerics assigned a new rating of IVR AA/Stable for the bank's fixed deposit programme.

Regulatory Compliance

The bank disclosed this information pursuant to Regulation 30(6) read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also follows SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

Rating Rationale Access

The detailed rating rationale for both the reaffirmation and assignment has been published by Infomerics. The rating rationale document can be accessed through the link provided by the rating agency. The bank has also uploaded this information on its official website at www.southindianbank.bank.in for stakeholder reference.

Communication to Exchanges

The bank formally communicated these rating actions to both the National Stock Exchange of India Ltd and BSE Ltd through its company secretary Jimmy Mathew. The communication was digitally signed and dated March 26, 2026, ensuring proper documentation and regulatory compliance.

South Indian Bank has announced a key board appointment through an official regulatory filing dated March 21, 2026. The bank has appointed Mr. Thomson Thomas as Additional Director (Non-Executive Independent Director) effective March 23, 2026, following the completion of Mr. V J Kurian's term as Independent Director.

Board Meeting Outcome and Regulatory Filing

The appointment was formalized through a board meeting outcome communicated to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The official communication was issued at 9:25 p.m. on March 21, 2026, and signed by Company Secretary Jimmy Mathew. The filing was made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Professional Background and Expertise

Mr. Thomson Thomas brings extensive experience to the board at 66 years of age. As a Chartered Accountant with 39 years of distinguished experience, his expertise spans multiple critical domains including Banking and Finance, Corporate Audit, Corporate Taxation, Risk Management, and Corporate Governance.

He has served as Statutory Central Auditor to three banks and has led audits of several large and reputed corporate groups across India. His professional capabilities include deep exposure to key regulatory frameworks including RBI, SEBI, the Companies Act, and the Income-tax Act. Mr. Thomas has successfully handled complex tax litigations for leading companies in Kerala, providing strategic and practical solutions.

Current Professional Role

Currently, Mr. Thomson Thomas serves as Principal Partner of M/s. ELIAS GEORGE & CO, Chartered Accountants, based in Kochi. The bank has recognized his strong professional judgment, independence, and governance-focused approach to financial oversight and risk management.

Regulatory Compliance and Stock Exchange Communication

The formal communication was sent to both National Stock Exchange of India Ltd. (SCRIP CODE: SOUTHBANK) and BSE Ltd. (SCRIP CODE: 532218) as per regulatory requirements. The appointment requires shareholders' approval, which the bank will seek in due course.

The bank has confirmed that Mr. Thomson Thomas is not debarred from holding the office of Director by SEBI or any other regulatory authority. The disclosure has been made pursuant to regulatory requirements and is hosted on the bank's official website at www.southindianbank.bank.in .