Manipal-based public sector lender Syndicate Bank has raised Tier II Capital to the extent of Rs 1,000 crore through issue of unsecured non-convertible sub-ordinate Lower Tier II bonds on December 28, 2012. The issue opened and closed on December 28, 2012 and was fully subscribed. The bond was priced at 9.00% per annum which is been payable annually.
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. It has got an international branch at London.
The bank has posted a rise of 43.48% in its net profit at Rs 463.37 crore for the quarter ended September 30, 2012 as compared to Rs 322.94 crore for the same quarter in the previous year. Total income has increased by 13.22% at Rs 4546.33 crore for quarter under review as compared to Rs 4015.64 crore for the quarter ended September 30, 2011.
