Syndicate Bank net up 30 percent in third quarter

January 23rd, 2009 - 8:12 pm ICT by IANS  

Bangalore, Jan 23 (IANS) State-run Syndicate Bank posted net profit of Rs.3.56 billion (Rs.356 crore/$72.4 billion) for the third quarter this fiscal, registering 30 percent year-on-year (YoY) growth. Net profit in the corresponding period last fiscal was Rs.2.73 billion, the bank said in a statement here Friday.

Total income for the quarter under review increased 22 percent to Rs.27.58 billion from Rs.22.66 billion a year ago.

Interest income increased to Rs.25.65 billion from Rs.19.87 billion, registering 31 percent YoY growth.

Interest expended during the quarter is Rs.17.66 billion as against Rs.15.13 billion in the year-ago period, an increase of 17 percent.

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