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Sunday, October 21, 2012

Syndicate Bank aims for 15% loan growth

Syndicate Bank is targeting a loan growth of 15 per cent and net interest margin of over 3 per cent in 2012-13, a top official said on Saturday.

“We are estimating about 15 per cent loan growth, that we are likely to achieve....Net Interest Margin (NIM) actually we are targeting 3 per cent plus for the year and that we will definitely meet,” Syndicate Bank Executive Director, Ravi Chatterjee, said on the sidelines of a launch here.

In 2011-12, Udupi-based public sector lender’s global advances grew by 15.94 per cent to Rs 1,25,617 crore.

Meanwhile, the bank here launched international gold debit card and RuPay kisan cards on the occasion of its 88th Foundation Day.

“The international gold debit card is for premium segment customers. The RuPay kisan credit card will help farmers to buy fertilisers and seeds,” Chatterjee said.

The premium customers having gold debit card would have the facility of Rs 25,000 withdrawal a day and point of sale transactions up to Rs 50,000.

RuPay Kisan credit card would also facilitate farmers to meet their short-term credit needs of crop cultivation, post harvest expenses, household consumption as well as working capital for maintenance of farm assets and allied agricultural activities.

RuPay is the domestic ATM/debit card payment system on the lines of international systems like Visa and Mastercard.

Besides, the bank also launched zero balance ‘Synd Navratna’ savings bank account and online donations facility to Prime Minister’s National Relief Fund.

“Even if one has zero balance, we will not levy any charge,” Chatterjee said.

The bank has over 2,700 branches including one overseas branch in London and two exchange houses in Qatar and Oman.


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