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Tuesday, Oct 31, 2006

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Money & Banking - Financial Performance
Corporate Results - Public Sector Banks
Syndicate Bank Q2 net rises 17%

Our Bureau

New Delhi , Oct. 30

Syndicate Bank on Monday reported a net profit of Rs 205 crore for the July-September quarter marking a 17 per cent increase over Rs 175 crore in the corresponding quarter last fiscal.

Net profit for the first half stood at Rs 386 crore, up 14 per cent compared to Rs 338 crore net profit in the first half of last fiscal. The operating profit for the first half stands at Rs 605 crore.

Total deposits at the end of September stood at Rs 71,065 crore, up 51 per cent compared to Rs 47,144 crore deposits in September 2005, according to a company release.

The bank's advances stood at Rs 46,168 crore as on September against Rs 31,149 crore in September 2005.

The bank's gross NPA in percentage terms came down to 3.67 per cent as on September this year compared to 4.68 per cent. The net NPA also came down to 0.89 per cent in September this year against 1.44 per cent in the corresponding time last year.

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