Syndicate Bank has reported results for its first quarter ended June 30, 2011.
The bank’s net profit for the quarter has surged 29.22% at Rs 342.91 crore as compared to Rs 265.36 crore for the same quarter last year. Its total income increased by 30.86% to Rs 3689.92 crore for the quarter under review from Rs 2819.73 crore for the corresponding quarter of the previous year.
Syndicate Bank is a Karnataka-based public sector bank in which GoI holds 69.47% stake. It is one of the larger public sector banks with an asset size of Rs 156,539 crore, a network of 2,494 branches (including a branch at London) and 1,220 ATMs as on March 31, 2011.
