Manipal-based public sector lender, Syndicate Bank is reportedly planning to open 100 new branches in the state of Andhra Pradesh by the end of this year including 10 in the twin cities. Currently, the bank had 431 branches and 134 ATMs besides 251 ultra small branches in the State. The bank is also planning to achieve a business of Rs 40,000 crore in this State.
The bank has registered a rise of 2.74% in its net profit at Rs 452.28 crore for the quarter under review as compared to Rs 440.22 crore for the same quarter in the previous year. Total income of the bank has increased by 5.54% at Rs 4726.18 crore for Q1FY14 as compared Rs 4478.06 crore for the corresponding quarter previous year.
