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Syndicate Bank to bring down NPAs by 20%

14 May 2013 Evaluate

Syndicate Bank is planning to bring down non-performing assets (NPA) and it has drawn up a strategy for the same. It has decided to implement stressed tiny assets recovery programmes, other than providing one-time settlements by conducting ‘Synd Adalats’ every quarter to reduce NPAs by 20% this year.

The Bangalore-based bank’s net profit surged by 91.43% at Rs 592.34 crore for the fourth quarter of 2013 as compared to Rs 309.43 crore for the quarter ended March 31, 2012. Total income of the bank has increased by 8.06% to Rs 4,780.75 crore for the quarter ended March 31, 2013 from Rs 4,424.33 crore for the quarter ended March 31, 2012.

Peers
Company Name CMP
State Bank Of India 980.00
PNB 123.90
Bank Of Baroda 241.50
Canara Bank 119.75
Union Bank Of India 186.15
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