PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: South Indian Bank Ltd

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

South Indian Bank Bags Award in the 10th 'Financial Express' Awards Selected by 'Ernest & Young' - In the 10th “Financial Express” Awards for “India’s Best Banks” selected by the global management consultancy,
South Indian Bank Bags Award in the 10th 'Financial Express' Awards Selected by 'Ernest & Young'

 

NewswireToday - /newswire/ - Trichur, Kerala, India, 2009/07/31 - In the 10th “Financial Express” Awards for “India’s Best Banks” selected by the global management consultancy, "Ernest & Young", South Indian Bank (SIB) has emerged the winner in the traditional banks’ category.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

In a glittering function organized at the Taj Mahal Palace Hotel, Mumbai, Mr. Pranab Mukherjee, Union Finance Minister presented the award to Dr. V.A. Joseph, MD&CEO of the South Indian Bank.The other winners of the foreign, new generation and public sector banks’ categories respectively are-Bank of America, Axis Bank and Indian Bank. The awards are presented every year with the intent to honour banks that have delivered exemplary performance on various parameters including strength, growth, innovation, efficiency and credit quality on the basis of Reserve Bank of India (RBI) data.

Mr. Mukherjee who was the chief guest of the most coveted banking awards function in the country – “India's Best Bank Awards” –in his speech, enumerating the reasons for the global financial turbulence, said, "There were four major reasons for the current dislocation and the first one was overconfidence among market participants that ample liquidity would continue to prevail, providing an outlet for new products and facilitating rapid growth. Second was lack of transparency and inadequate disclosures in high-risk, structured financial products. Thirdly, a series of misaligned incentives led to the watering down of credit quality standards and lastly, risk was passed on from one institution to another. Highly leveraged position of banks caused problems for stability in the system."

Congratulating the Indian banking system for being resilient in the face of the global economic turmoil, the Finance Minister said , "Cautious approach by the Reserve Bank of India and domestic banks prevented the economy from facing many problems".

Regarding selection of the winners, Mr. Viren Mehta, Director, Ernst & Young, India had earlier stated: “All banks, irrespective of their ownership ,compete in the same market place and are faced with the same situation”, he added, “we have therefore emphasized on the efficiency, quality and productivity of the institutions we evaluated who made the best of the opportunities that the tumultuous 2007-08 provided.”

Dr. V.A. Joseph, MD&CEO of the South Indian Bank commenting on the honour bagged by the Bank said, “This coveted award speaks strongly of the corporate metamorphosis the Bank has undergone and also our commitment to excellence even in these turbulent times when global financial institutions are in trouble. During the global financial crisis when there is public concern about the asset quality of banks, our Bank could bag many a honour for its asset quality, a few of them being – “the best bank in asset quality in the private sector” which includes both the new generation as well as the traditional banks from “Dun & Bradstreet” who had awarded South Indian Bank in their “Dun & Bradstreet Banking Awards2009”, ‘‘Best bank in the asset quality” in the “Business Today-KPMG Survey of Best Banks in India” in the private sector which includes the new generation and traditional banks” etc.

“The Bank also could bag a special award for excellence in banking technology from IDRBT which is the technical arm of the Reserve Bank of India. This award was presented to the Bank as a national -level recognition to the excellent contribution made in the area of information systems, security policies and practices.The bank has bagged this award by tightly competing with all categories of banks in India such as foreign Banks, private sector banks, public sector banks and co-operative banks”, MD& CEO of the South Indian Bank also added.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: South Indian Bank Ltd

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!


South Indian Bank Bags Award in the 10th 'Financial Express' Awards Selected by 'Ernest & Young'

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Simon Joseph - SIB.co.in 
+91 48 72423858 ccm[.]sib.co.in
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any South Indian Bank Ltd securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From South Indian Bank Ltd / Company Profile


Read Financial/Legal/Venture Most Recent Related Newswires:

Infinera to Participate in Upcoming Investor Conference
Propel Financial Services Partners with Clear Payment Solutions
Digital Payments Power Growth in Booming Asia-Pacific Financial Technology Landscape Notes Frost & Sullivan
Digital Readiness Key to Growth Opportunities in the Financial Services Market
Prairie Capital Advisors Announces The Sale of Cornerstone Treatment Facilities Network to An ESOP
Koch Agrees to Invest Over $2 Billion in Infor
FTI Consulting Recognized as a Top Service Provider in the Legal Industry
GE Completes Spin Off and Demerger of Bank BPH Core Bank to Alior Bank
ALM Expands Senior Leadership Team, Organization Focused on Customers and Transformation
Lazard Acquires Remaining 50% Stake in MBA Lazard - Fully Integrating its Latin American Operations
Western Union Business Solutions Announce Mark Davis As Head of Australia and New Zealand
Tabarak Investment Capital and Elite Capital & Co. Limited in Discussion to Finance Projects
Consulting Magazine Unveils the Profession’s Fastest Growing Firms At Inaugural Gala
Hills Invest Signs An Agreement with The Afore Profuturo in Mexico
TRA Searches for TPA Acquisition Opportunities

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  K A C, Images and U, LLC

Visit  NAKIVO, Inc.





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)