Syndicate Bank opens new branch at Nagaram, Andhra Pradesh

Manipal-based public sector lender, Syndicate Bank has opened a new branch at Nagaram, Keesara Road, Andhra Pradesh. The branch was formally inaugurated by A.S. Rao, Regional Director, Reserve Bank of India, Hyderabad. The bank has the highest number of branches in Andhra Pradesh next to Karnataka.

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.