Syndicate Bank has reported results for the fourth quarter and year ended March 31, 2016.
The bank has reported a net loss of Rs 2158.17 crore for the quarter ended March 31, 2016 as compared to net profit of Rs 416.92 crore for the same quarter in the previous year. Total income of the bank has decreased by 1.13% at Rs 6524.65 crore for quarter under review as compared to Rs 6599.13 crore for the quarter ended March 31, 2015.
For the year ended March 31, 2016, the bank has posted a net loss of Rs 1643.49 crore as compared to net profit of Rs 1522.93 crore for the same period in the previous year. However, total income of bank increased 8.35% at Rs 25706.51 crore for year under review as compared to Rs 23724.75 crore for the period ended March 31, 2015.
For the year ended March 31, 2016, on the consolidated basis, the bank has registered a net loss of Rs 1517.25 crore as compared to net profit of Rs 1664.08 crore for the same period in the previous year. However, total income of bank increased 8.24% at Rs 25831.40 crore for year under review as compared to Rs 23864.58 crore for the period ended March 31, 2015.
