Syndicate Bank is a Public Sector Bank in India with 3,671 branches, 3,427 ATM's and 27,446 employees across the country.
Syndicate Bank's registered office is located at Post Box No 1 Manipal-576104 Karnataka India
For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 5,520 crs. and Standalone net profit of Rs. 1,523 crs. Syndicate Bank reported total deposits of Rs. 255,388 crs and total advances of Rs. 205,804 crs.
Syndicate Bank's management is led by its CEO Mr. Arun Shrivastava.
Highest fixed deposit interest offered by Syndicate Bank is 7.50% per annum on deposits.
Its current Base Rate is 9.60%, which was last revised on 07th Nov 16.
28th Jul 16 Syndicate Bank posts Q1 Net Profit at R79 cr, NPAs up
Syndicate Bank reported a net profit of Rs 79.13 crore , which is lower by 73.9 percent compared to year ago period . The results of this year are not comparable to past year due to exceptional write-off.
The Bank stated in its regulatory filing that Previous quarter results are not comparable with the current quarter since there was an exceptional item of write-off on account of fraud at three branches of Jaipur region.
The total income showed a slight increase by 1.5percent to R6, 419 crore, while interest income increased by 4.7percent to Rs. 1479 crore compared to a year ago period . .
Asset Quality deteriorated as the Gross NPAs in June Quarter were 7.53% of gross advances , compared with 3.72%a year ago . Net NPAs stood at 5.04%, compared with 2.36% in the year-ago period. The bank has upgraded NPAs of Rs 220.42 crore and made recoveries of Rs444.70 crore.
08th Jul 16 Syndicate Bank revises MCLR, base rate
Syndicate Bank revised its Marginal Cost of Funds Based Lending Rate (MCLR) . The revised overnight MCLR will be 9.40 per cent (existing MCLR 9.50 per cent), one month MCLR 9.45 per cent (existing MCLR 9.55 per cent), three months MCLR 9.45 per cent (existing MCLR 9.55 per cent), six months MCLR 9.50 per cent (existing MCLR 9.60 per cent) and one year MCLR 9.55 per cent (existing MCLR 9.65 per cent). This will be in effect from 11th July 2016.
The bank has also revised its base rate and BPLR . Base rate revised 9.60 per cent (existing rate 9.70 per cent) and BPLR revised 13.85 per cent (existing 13.95 per cent). This will also be in effect from 11th July 29, 2016. This cut in interest rates should result in lower interest for banks customer for home loan