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Monday, October 22, 2012

Syndicate Bank Q2 profits jump 43.5%

Syndicate Bank profits jumped 43.48 per cent to Rs 463.37 crore during the second quarter of this fiscal.

Revenues were also up 13.21 per cent to Rs 4,546.33 crore, while EPS stood at Rs 7.70 (Rs 5.63).

The bank’s asset quality is robust with Gross NPA ratio and Net NPA ratio at 2.47 per cent and 0.92 per cent, respectively as on September 30, 2012 compared with 2.38 per cent and 0.93 per cent, respectively during the same period last year.

Return on assets of the bank rose to 1.03 per cent from 0.83 per cent in the same period last year.

The scrip was trading at Rs 121.45, down 1.62 per cent on the BSE.


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