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The bank had reported net profit of Rs 332.37 crore in the corresponding quarter last year. dh file photo
Manipal-based public sector lender Syndicate Bank on Wednesday reported a 75.20% net profit at Rs 82.42 crore for the second quarter ended September 30, 2016, on account of provisioning.
The bank had reported net profit of Rs 332.37 crore in the corresponding quarter last year. Total income also declined to Rs 6,574.93 crore during the second quarter from Rs 6,670.19 crore earned in the year-ago period, the bank said in a regulatory filing on stock exchanges.
The bank’s asset quality slipped with gross non-performing assets (NPAs) or bad loans more than doubled to 7.72% of gross advances during the reported quarter, from 3.72%, a year ago.
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