2017-08-21 :Syndicate Bank to focus on improving asset quality in FY18
Syndicate Bank is planning to focus on improving its asset quality in FY18. Simultaneously, the bank aims to bring down gross non-performing assets (NPAs) to 8.75 per cent. Besides improving its asset quality, the bank would also focus on mobilising its CASA deposits and growing its advances to the retail, agriculture and MSME sectors.
2017-08-09 : Syndicate Bank announces reduction in MCLR rates by 5-10 basis points
Syndicate Bank has slashed its marginal cost based lending rate (MCLR) by 5-10 basis points. The bank has changed the MCLR rate for six month and one year to 8.3 per cent and 8.5 per cent respectively as against 8.35 and 8.60 offered earlier. While for all other maturities, the MCLR rates have been left unchanged. The new MCLR rates are effective from 10th August, 2017.
2017-08-08 :Syndicate Bank to raise Rs. 4,500 crore capital
In a bid to bolster its capital base, Syndicate Bank is planning to raise Rs. 4,500 crore in the current FY18. The bank will raise its funding via following the equity capital market route and some other options.
2017-08-07 : Syndicate Bank of India reports loss at Rs. 263 crore in Q1
Public sector lender, Syndicate Bank has registered a loss at Rs. 263 crore during the current quarter of FY18 as compared to a profit of Rs. 79 crore during the corresponding quarter of the previous fiscal year. The loss is due to sharp increase in provisions for bad loans and reduction in the earnings from its corporate and wholesale banking during the current quarter.
2017-08-02 :Syndicate Bank establishes dedicated Retail and MSME loan Centre to reduce loan processing time
In a bid to reduce the loan processing time and also to smoothen the entire loan sanction process, Syndicate Bank has established a dedicated Retail and MSME Loan Centre (RMLC) in the city, Hyderabad. The newly launched centre will act as a hub and will provide assistance regarding loans.
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