Syndicate Bank net profit at Rs 449 crores

Thiruvananthapuram, Nov 22: Stating that the capital adequacy ratio of the Syndicate Bank stood at a healthy percentage of 12.19 per cent, its Regional Manager C P Balachandran Nair said today that the bank had earned a net profit of Rs 449 crore as on September 30.

Addressing a press conference here, he said the total global business of the bank during the same period was Rs 137,333 core comprising a customer base of 19 million.

Pointing out that the bank had been registering net profit continuously, he said the deposit and advances during the same period were Rs 83,849 crore and Rs 53,484 crore respectively.

The Thiruvananthapuram Region had done a total business of Rs 1,463 crore with deposit constituting Rs 830 crore and advances Rs 633 crore through its 49 branches, out of which 47 were in CBS network, he added.

Mr Nair said the Bank had been a pioneer in introducing Core Banking Solution (CBS) and 92 per cent of the bank's business had already migrated to CBS platform.

The bank had introduced on line application facility for some of its loan schemes like education, SME, housing, loan to traders, professions and self employed to enable the customers to seek credit facilities just by clicking, he said.

Besides this, it had also implemented a novel mode of canvassing of accounts through mobile van by reaching the public at their doorsteps and bringing them into the banks fold, he added.

UNI