• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Kochi, Aug. 18 The 80th AGM of South Indian Bank has approved the recommendations of the board of directors to effect bonus issue, employee stock option scheme and 30 per cent dividend to the existing shareholders.

“The bonus issue is intended to enhance the value for our long-term shareholders in the wake of the unprecedented all-round growth of the bank. ESOP has also been approved, which is a way of rewarding the employees for participating in the excellent performance of the bank. Employee stock option has been recognised generally as an effective step to attract, retain and motivate employees,” Dr V.A. Joseph, Chairman, said at the AGM.

For the current fiscal, the bank has set a business target of Rs 30,500 crore and a net profit of Rs 190 crore. The bank is also working towards adding five lakh new customers in the savings bank accounts.

More Stories on : ESOPs | Bonus Announcements | Private Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line