Syndicate Bank Q2 Net Up 5 Per cent At Rs 332 Crore

Posted By: Staff
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New Delhi, Oct 28 (PTI) Public sector lender Syndicate Bank today reported 5.3 per cent rise in its net profit at Rs 332.37 crore for the second quarter ended September 30, 2015.

Syndicate Bank Q2 Net Up 5 Per cent At Rs 332 Crore
Syndicate Bank: Quotes, News
BSE 77.05BSE Quote1.8 (2.34%)
NSE 77.15NSE Quote1.8 (2.33%)

The bank's net profit in the July-September quarter of the previous fiscal stood at Rs 315.60 crore. Total income increased to Rs 6,670.19 crore during the second quarter from Rs 5,680.96 crore earned in the year-ago period, the bank said in a filing to BSE.

For bad loans and contingencies, the bank made a provision of Rs 440.29 crore during the period, down from Rs 537.79 crore a year ago.

However, the bank's asset quality slipped with gross non-performing assets (NPAs) or bad loans rising to 3.72 per cent of gross advances during the reported quarter, from 3.43 per cent a year ago.

Likewise, net NPAs too increased to 2.37 per cent of net advances, as against 2.29 per cent in the similar quarter a year earlier. Syndicate Bank shares closed 1.80 per cent down at Rs 95.45 apiece on the BSE.


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