Syndicate Bank, a state-run bank, has raised unsecured redeemable non-convertible Basel II Compliant Tier II bonds in the nature of debentures aggregating to Rs 750.00 crore. The issue is fully subscribed.
Syndicate Bank (SB) is a Manipal-based public sector bank which was established in 1925. The bank has registered 32.86% fall in its net profit at Rs 315.60 crore for second quarter ended September 30, 2014 as compared to Rs 470.12 crore for the same quarter in the previous year.