Manipal-based public sector lender, Syndicate Bank has expanded its branch network by opening 28 new branches. The new branches were inaugurated by Union Finance Minister P. Chidambaram at a programme in Thanjavur in Tamil Nadu. The bank has opened 110 branches this fiscal to take its tally to 3,044 branches including one in London.
Besides, during the current fiscal the bank has set target to open another 200 branches across the country in addition to 88 branches proposed to be opened on its 88th Foundation Day.
The bank has registered a rise of 2.74% in its net profit at Rs 452.28 crore for first quarter ended June 30, 2013 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.
