Syndicate Bank has inaugurated the bank’s national processing centre in Manipal on September 20. This digitally enabled processing centre will cater to a number of processes for branches across India. With this, the branches can become more sales-focused. This centre is part of the business process re-engineering (BPR) pillar of ‘Project Ananya’, which is a transformation programme initiated by the bank, has four pillars.
The bank has reported 73.79% fall in its net profit at Rs 79.13 crore for first quarter ended June 30, 2016 as compared to Rs 301.98 crore for the same quarter in the previous year. Total income of the bank increase by 1.51% at Rs 6419.12 crore for Q1FY17 for quarter under review from Rs 6323.42 crore for the corresponding quarter previous year.
The bank’s gross NPA for the April-June quarter of the current fiscal increased to 7.53%, as compared to 3.72% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 5.04% in Q1FY17.
