Syndicate Bank has raised Rs 1000 crore by issuing perpetual non-convertible additional tier-I bonds. The issue opened as well as closed on October 24, 2016. The bank has issued bonds in the form of unsecured non-convertible (Basel III compliant) perpetual debt instruments in the nature of debentures for inclusion in additional tier-I capital. The bonds are carrying a coupon rate of 9.95% per annum payable annually.
Syndicate 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.
