Syndicate Bank Q2 net profits at Rs 470 crores; NPAs rise

Posted By:
Subscribe to GoodReturns

Syndicate Bank Q2 net profits at Rs 470 crores; NPAs rise
Syndicate Bank: Quotes, News
BSE 65.90BSE Quote0.6 (0.91%)
NSE 66.10NSE Quote0.4 (0.61%)
Public Sector Bank, Syndicate Bank has reported an increase in net profits to Rs 470 crores for quarter ending Sept 30, 2013, as against Rs 452 crores in the previous quarter ending June 30, 2013.

Gross non performing assets for the quarter were placed at 2.88%, as against 2.38% in the previous quarter. Net non performing assets have also risen to 1.66 from 1.19% in the previous quarter.

Syndicate Bank is the second public sector bank to have reported numbers after Indian Overseas Bank declared results last week. So far results of PSU banks have largely been in line with estimates.

The trend of non performing assets increasing seems to be continuing at public sector banks.

The shares of Syndicate Bank were down almost 1% on the National Stock Exchange.

GoodReturns.in

Read more about: syndicate bank, q2 2014
Story first published: Monday, October 28, 2013, 13:02 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?