Syndicate Bank

Syndicate Bank posted an operating profit of Rs.742.55 crore in the first quarter ended June 30, 2011, against Rs.587.22 crore in the year ago period, an increase of 26.45 per cent.

The net profit has risen to Rs.342.91 crore from Rs.265.36 crore, a growth of 29 per cent. Net interest income has increased to Rs.1,111 crore from Rs.963 crore, an increase by 15 per cent. Income from other sources was higher by 35 per cent at Rs.291 crore, mainly due to increase in fee-based income and trading profit, a release, said. CASA deposits grew to Rs.41,436 crore from Rs.39,690 crore, regisering a year-on-year growth of six per cent. Gross non-performing assets (NPAs) increased to 2.39 per cent from 2.31 per cent. Net NPA, however, declined to 0.93 per cent from 1.06 per cent in the period under reference.