Syndicate Bank's Q1 net profit rises 28%

Last Updated: Tue, Jul 31, 2012 05:17 hrs

Syndicate Bank on Monday reported a 28.28 per cent growth in net profit at Rs 440 crore for the first quarter ended June 30, 2012, compared to Rs 343 crore reported in the same quarter last year. Interest income during the quarter stood at Rs 4,242 crore, up by 24.80 per cent as against Rs 3,399 crore in the corresponding period last year, the bank said in a statement.

Announcing financial results for the quarter ended June 30, 2012, the company said other income declined to Rs 236 crore, a negative growth by 18.90 per cent in the quarter compared to Rs 291 crore earned in the same period last year.

Gross NPA came down slightly from 2.39 per cent to 2.38 per cent in this quarter, but net non-performing assets (NPA) remained at 0.93 per cent, it said.

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