South Indian Bank announces the launch of SIB Wealth - a wealth management platform

MUMBAI, India, Feb. 7, 2023 /PRNewswire/ -- South Indian Bank announces the launch of a wealth management platform in partnership with Geojit Financial Services Ltd.

SIB Wealth is an exclusive value-added service that will help the bank's high net worth (HNI) customers to invest their money in the best financial instruments available in the market. Under the platform, SIB will be offering the following products/services:

• Portfolio management services
• Alternative investment fund
• Systematic investment plan
• Mutual fund
• Bond
• Real estate funds
• Structured products

South Indian Bank has tied up with Geojit Financial Services Ltd, an investment services company with experience of over 35 years in providing effective financial solutions, to operationalise the service offering.

Speaking on the occasion, Thomas Joseph K, EVP & Group Business Head, South Indian Bank said, "Demand for professional wealth management services has increased in the recent times. In our nine decades of legacy, our aim has always been to provide the best in-class services to our customers. This service will help the HNI customer base with appropriate financial products and advisory to enable them to maximise their wealth. I'm confident that SIB Wealth will prove to be one of India's most comprehensive wealth management platforms.''

Jones George, Executive Director, Geojit Financial Services Ltd., further elaborated, "We are proud to be partnering a financial institution with a rich legacy of over nine decades. We hope to leverage the same to provide investment solutions based on our over 35 years of expertise in the Indian capital market. This will enable the bank's account holders to maximise their wealth through tailored investment solutions. We are sure that SIB Wealth will add to SIB's robust brand proposition."

SIB Wealth will provide integrated services. Along with managing their financial assets, we will be creating strategic plans for their current and future needs. Geojit's expertise will be valuable as South Indian Bank enables their HNI customers to fulfil their financial goals with the best wealth management solutions.

About South Indian Bank

South Indian Bank is a leading Kerala-based Private sector bank with a nationwide presence. The bank's shares are listed on The Stock Exchange Mumbai (BSE) and The National Stock Exchange of India Ltd., Mumbai (NSE). South Indian Bank has 928 branches, 1154 ATMs and 121 CDMs/CRMs across India and a representative office in Dubai, UAE. South Indian Bank is a pioneer in technology-based banking, offering an array of digital products and services. It has one of the youngest workforces in the banking sector in the country. The Bank's Vision 2024 focuses on the 6 Cs -- capital, CASA, cost-to-income, competency building, customer focus, and compliance.

About Geojit Financial Services

Geojit Financial Services (www.geojit.com) is one of the leading investment services companies in India, with a strong presence in the Gulf Cooperation Council (GCC) countries. As on 31 December 2022, the company has 12, 70,000 clients, a network of 497 offices and has Assets under Custody and Management worth around Rs. 71,600 crore. BNP Paribas, C J George - Founder and Managing Director of Geojit, Kerala State Industrial Development Corporation (KSIDC) and Rekha Rakesh Jhunjhunwala are the prominent shareholders of the company.