NEWS & ADVICE : SAVINGS ACCOUNTS
The rise of Q2 net of Syndicate Bank
By Vaibhav Aggarwal
Oct 29, 2013
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The net profit of Syndicate Bank, the giant public sector lender, during July-September which is the second quarter, was up by 1.4 percent to Rs.470 crore on the yearly basis. However, the asset quality exacerbated further while procurements declined fundamentally. Net premium wage - the distinction between premium earned and exhausted - expanded to Rs.1, 411.3 or 1.5 percent in a matter of three months, which ended on September 2013, in comparison to last year where it was Rs.1, 3910.

There was a fall of 30.5 percent for the contingencies and provisions Q-o-Q (which had dropped year on year by 29 percent). At the end of September 2013 which was the last month of the three month quarter it was at Rs.340.

According to Basel III, the capital adequacy ratio, in the September quarter was at 11.58 percent, this was in comparison to the quarter of June where it was at 11.49 percent.


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