Syndicate Bank has reported results for the fourth quarter and year ended March 31, 2019.
The Bank has reported a net profit of Rs 128.02 crore for the quarter ended March 31, 2019 against net loss of Rs 2,195.12 crore for the same quarter in the previous year. Total income of the Bank increased by 4.95% at Rs 6345.22 crore for quarter under review as compared to Rs 6046 crore for the quarter ended March 31, 2018.
For the year ended March 31, 2019, the Bank reported a net loss of Rs 2,588.30 crore against net loss of Rs 3,222.84 crore for the previous year. However, total income of Bank marginally decreased by 2.57% at Rs 23,949.22 crore for year under review as compared to Rs 24,581.85 crore for year ended March 31, 2018.
For the year ended March 31, 2019, on the consolidated basis, the Bank has reported a net loss of Rs 2,524.20 crore against net loss of Rs 3,111.69 crore for the previous year. Total income of Bank marginally decreased by 2.75% at Rs 24,012.75 crore for year under review as compared to Rs 24,691.28 crore for year ended March 31, 2018.
