Monday, August 1, 2011

Syndicate Bank


Syndicate Bank reported first-quarter net profit of Rs.342.91 crore, compared with Rs.265.36 crore for the quarter ended June 30 last year, reflecting a 29 percent decline. On a per share basis, earnings for the quarter rose by 18 percent to Rs.5.98 from the Rs.5.08 in Q1FY11.
Net income for the quarter amounted to Rs.1,110.40 crore, up by 15 percent from the Rs.963.79 crore in the corresponding quarter of the preceding year, while non-interest income was Rs.291.38 crore, compared with Rs.215.37 crore in Q1FY11, an increase of 35 percent.
Total income increased by 31 percent to Rs.3,689.92 crore from the Rs.2,819.73 crore in the year-ago quarter.
As at the end of June this year, Gross NPA stood at 2.39 percent, while net NPA was at 0.93 percent.
Capital Adequacy ratio, as per Basel-II was 12.09 percent, down from 12.37 percent in the preceding year quarter.
As at the end of June this year, total deposits stood at Rs.132,889 crore, up by 22 percent from the Rs.108,560 core as at the end of June last year, while advances rose by 17 percent to Rs.108,928 crore from the Rs.92,873 crore as on last June.
At the BSE, Syndicate Bank closed Friday's trading at Rs.120, up by 2.70 percent from the previous close.

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