Karnataka based PSU bank Syndicate Bank has opened 18 new branches in Telangana and Andhra Pradesh on October 20, 2014. With this addition, the total number of branches in these two States is 525 with a business of over Rs 38,095 crore.
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.
