Syndicate Bank reports 33% drop in Q2 net profit

Syndicate Bank - (Amalgamated) | Bank - Public | BFSI | BSE: 532276 | NSE: SYNDIBANK

07 Nov 2014 Evaluate

Syndicate Bank has reported results for second quarter ended September 30, 2014.

The bank has registered 32.86% fall in its net profit at Rs 315.60 crore for the quarter under review as compared to Rs 470.12 crore for the same quarter in the previous year. However, total income of the bank has increased 17.12% at Rs 5680.96 crore for Q2FY15 as compared Rs 4850.35 crore for the corresponding quarter previous year.

Gross non-performing assets (NPAs) increased to 3.43% in the July-September quarter as against 2.88% in the same quarter previous year, while net NPAs stood to 2.20%.

Peers

Company Name	CMP
State Bank Of India	989.80
PNB	117.20
Bank Of Baroda	234.80
Canara Bank	123.50
Union Bank Of India	177.00
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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
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Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com	Telephone: +919860919463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com	Telephone: +919175899463 Address: Same as IA
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