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Syndicate Bank quarter end profit increases by 26 per cent
Syndicate Bank’s profit for the last quarter ending on June 30, 2017 increased by 26 per cent, according to the bank release. The bank’s net interest income and non-interest income increased by 8 and 9 per cents respectively. The gross NPA ratio stood at 9.96 per cent while the Net NPA ratio stood at 6.27 per cent.
Bengaluru: Syndicate Bank’s profit for the last quarter ending on June 30, 2017 increased by 26 per cent, according to the bank release. The bank’s net interest income and non-interest income increased by 8 and 9 per cents respectively. The gross NPA ratio stood at 9.96 per cent while the Net NPA ratio stood at 6.27 per cent.
As part of providing enhanced customer service, bank has implemented Green PIN project. The bank has also launched UPI application for the IOS mobile phones, bilingual in internet banking.
The banks total business increased to Rs 4,75,313 cr against Rs 4,68, 764 cr the previous year. The bank’s total deposits increased to Rs 2,72,578 cr on June 30, 2017 from Rs 2,63,915 cr on June 30, 2016. Total advances of the bank stood at Rs 2,02,735 cr on June 30, 2017 as against 2,04,849 cr on June 30, 2016.
