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.
