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Wednesday, February 13, 2013

Syndicate Bank targets Rs 3,50,000-cr biz by March-end: ED

Syndicate Bank is aiming at Rs 3,50,000 crore business by the end of March and to take the number of branches to 3,000, said M. Anjaneya Prasad, Executive Director.

He was speaking while inaugurating the Akkayyapalem branch, Vizag, the ninth branch in the city and 411 in Andhra Pradesh.

Prasad said the bank had at present 2,777 branches (including one in London), with a total business of Rs 3,00,723 crore (deposits amounting to Rs 1,64,075 crore and the rest advances). He added that one more branch would be opened shortly at Vepagunta in the city, taking the total to 10, and three more would be established in East Godavari district.

He said the net NPA went down to 0.85 per cent and the employee productivity rose to Rs 11.56 crore from Rs 9.58 crore.

Source: thehindubusinessline


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