South Indian Bank, the private sector lender, said that Salim Gangadharan, former principal chief general manager and regional director of Reserve Bank of India, has been appointed as director of the bank with effect from Jan. 16, 2014.

The bank reported a rise of 10.18% in its third quarter net profit.  The bank registered a profit of Rs 1.41 billion for the quarter ended Dec. 31, 2013, compared with Rs 1.28 billion, a year ago.  Quarterly income totaled Rs 13.35 billion, an increase of 11.8% over Rs 11.94 billion in the same period a year ago.

Shares of the bank gained Rs 0.6, or 2.97%, to trade at Rs 20.80. The total volume of shares traded was 1,040,197 at the BSE (12 noon., Thursday).