South Indian Bank (SIB) (IFC-601502)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 11, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 1.48 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 2, 2017

Disclosed by Bank Dec 5, 2016


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Project Description
The objective of this initiative is to provide advisory service assistance to South Indian Bank (SIB) which will enable the bank to strengthen and expand its operations with emphasis on the SME business vertical. This would be a comprehensive bank-wide transformative technical assistance, involving strategy, business model, operating model, product development , process re-engineering, system upgrades, and alternate delivery channel development (focused on refining and leveraging existing technology and channels for product and service delivery).
People Affected By This Project
This project will help the South Indian Bank design a Shareholder Value Creation program through advisory interventions across the entire bank, but primarily across the Retail, Agri and small and medium enterprises (SME) business verticals, with an additional focus on women owned businesses. Currently in India, there is no bank with a clear focus on women owned businesses despite multiple studies showing a wide financing gap based on gender. This project aims in creating SIB as a bank with special focus on women owned businesses.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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