At a glittering ceremony held in Taj Lands' End, Mumbai, ET Ascent bestowed Mr. Murali Ramakrishnan, MD and CEO, South Indian Bank, with the 'Business Leader of the Year' award. It was the 21st global and the sixth Indian edition of the recognition.
ET Ascent's 'Business Leader of the Year' award is a singular platform to recognize leaders for their transformational leadership. Over the years, it has felicitated leaders who have succeeded in making a difference in their organizations during challenging circumstances. Mr. Ramakrishnan was awarded recognition for his role in captaining the restructuring of the bank and putting it on a course of growth. His accomplishments at South Indian Bank have been hailed by various stakeholders of India Inc.
Mr. Ramakrishnan expressed his joy at the event by saying, "I am pleased to receive acknowledgement for the collective action that our organization has worked in achieving. Our dedication and passion have propelled us to realize the corporate objective. I sincerely appreciate the support my team has given me to create a successful transformational journey. I thank the organizers and jury for recognizing me with the prestigious title."
South Indian Bank went through a transformation in the last two years after Mr. Murali Ramakrishnan had taken charge as CEO of the bank. He started the journey by formulating a '6 C' strategy towards achieving the bank's vision of `Profitable growth through quality credit'. The 6 Cs were: (a) Capital adequacy (b) CASA (c) Cost to Income ratio (d) Competency building (e) Customer focus (f) Compliance. This led to the successful turnaround of the company in terms of its profitability and he believes, it is a continuous process.
Shares of The South Indian Bank Limited was last trading in BSE at Rs. 17.10 as compared to the previous close of Rs. 17.35. The total number of shares traded during the day was 892241 in over 2034 trades.
The stock hit an intraday high of Rs. 17.50 and intraday low of 17.00. The net turnover during the day was Rs. 15332195.00.