Syndicate bank achieves the landmark figure of Rs 5 lakh Crore Business

The Operating Profit increased by 111 pc, from Rs 634 crore in Dec-2018 quarter to Rs 1336 crore in Dec-2019 quarter.

The Net Interest Income (NII) has increased by 16 pc, from Rs 1619 Crore in Dec-2018 quarter to Rs 1871 Crore in Dec-2019 quarter.Domestic NIM has increased by 46 bps from 2.80 pc in Dec- 18 Quarter to 3.26 pc in Dec-19 Quarter. CASA deposit has increased by 8.13 pc on Y-o-Y.Overall Cost to income ratio has declined from 71.68 pc as on Quarter endedDec-18 to 52.06 pc as on Quarter ended Dec-19. Gross NPA Ratio declined from 12.54 pc as on Dec-18 to 11.33 pc as on Dec-19. Net NPA Ratio declined from 6.75pc as on Dec-18 to 5.94 pc as on Dec-19. Provision Coverage Ratio has improved from 64.81 pc as on Dec-18 to 69.28 pc as on Dec-2019.

The interest income for quarter ended Dec-2019 is Rs.5,403 crore as against Rs.5,459 crore in its corresponding period of previous year.
The other income increased by 48% to Rs.915 crore for the quarter ended Dec-2019 as against Rs.619 crore in corresponding quarter of previous year. The increase is

mainly due to increase in recovery in written off advances.

The Interest expenses decreased by 8% from Rs.3,840 crore in Dec-2018 quarter to Rs.3,532 crore in Dec-2019 quarter.

The Net Interest Income (NII) has improved by 16% from Rs.1619 Crore in Dec-2018 quarter to Rs 1871 Crore in Dec-2019 quarter.

The operating expenses decreased by 10% from Rs.1,604 crore in Dec-2018 quarter to Rs.1,450 crore in Dec-2019 quarter.

The operating Profit for Dec-2019 quarter increased by 111% from Rs.634 crore in Dec-2018 quarter to Rs.1,336 crore in Dec-2019 quarter.

The Bank has made provision and contingencies of Rs.901 crore during Dec-2019 quarter against Rs5 26 crore during Dec-2018 quarter.

The Bank made net profit of Rs. 435 crores for the Quarter ended Dec-2019 against a net profit of Rs 108 crores during Dec-2018.
The Bank’s Total Business increased to Rs.5,00,971 crore as on Dec of 2019 as against Rs.4,67,911 crore recorded in Dec of 2018 showing as increase of 7%. The

Domestic Business increased to Rs.4,44,033 crores as on Dec 2019 as compared to Rs.4,04,304 crore reported in its earlier corresponding period.
The Bank’s Total deposits increased to Rs.2,77,368 crore as on Dec 2019 as against Rs. 2,59,064 crore in its corresponding period of a year ago.
The Gross NPA declined to Rs.25,330 crore as at Dec 2019 from Rs.26,185 crore during Dec 2018 and in percentage terms, the Gross NPA ratio declined from

To enhance the customer convenience and to promote banking from home & mobile, in revamped version of Mobile Banking app, Bank has enabled 9 Regional Languages in addition to Hindi & English, Enrolment for micro
accidental death insurance, micro life insurance and social security pension scheme, NEFT, Debit card pin generation, Issuance of certificate of interest for loan accounts, Issuance of TDS / Form 16 Certificate along with many other
Crossed figure of 1 lakh PPF accounts with an addition of 76,602 PPFaccounts registering a growth of 121% over 31.03.2019, as on Nine Months ended on 31.12.2020.
The Bank has received “APY Formation Day (FY 2019-20)” award from PFRDA in the Category of Best Performing Public Sector Bank for our outstanding performance in APY enrollments.

Best Chief Information Officer award received among Indian Banks alongwith Hall of Fame CIO 100 award in 2019. Our Bishara Branch (Noida RO) has been awarded with Uttar Pradesh Farmers Producers Organization(FPO)

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