Syndicate Bank, a state-run bank, has opened its 17th mid-corporate branch at Hampankatta in Mangalore. This new mid-corporate branch is a specialized branch catering to credit requirements of borrowers requiring credit limits of Rs 5 crore and above. Besides, this new branch is equipped with specialized credit officers to quickly respond to requirements of borrowers and reducing turn-around time. The bank is planning to open 35 such branches by December 2014.
Syndicate Bank (SB) is a Manipal-based public sector bank which was established in 1925. The bank’s net profit for first quarter ended June 30, 2014 rose by 7.33% at Rs 485.42 crore as compared to Rs 452.28 crore for the quarter ended June 30, 2013. Its total income has increased by 16.86% to Rs 5523.08 crore for the quarter under review from Rs 4726.18 crore for the corresponding quarter of the previous year.
