Credit rating agency, CARE has reaffirmed AA+ rating to Rs 1,000 crore to Lower Tier II Bonds of Syndicate Bank.
The bank has received the said rating reaffirmation on the back of majority ownership by the Government of India (GoI), comfortable capitalization levels and the bank’s well-diversified credit portfolio.
Syndicate Bank has a network of 2,709 branches and 1,240 ATMs as on March 31, 2012. The bank has branches in all the states except Manipur and in all the Union Territories except Daman & Diu and Dadra & Nagar Haveli. SB has an international branch at London.
