Manipal-based public sector lender Syndicate Bank has set a business target of Rs 4.15 lakh crore for fiscal ’14 and hopes to drive growth with emphasis on SMEs and mid-corporate enterprises.
Talking to Deccan Herald on the sidelines of an event, the CMD of the bank, M G Sanghvi, said, “We closed 2012-13 with a total business of Rs 3.35 lakh crore, with deposits growing 17 per cent and advances 19 per cent. We intend to achieve Rs 4.15 lakh crore business this year.”
He also said that the bank's bulk deposits stood at 17 per cent of total deposits as on March 31, 2013, while CASA ratio stood at 31 per cent. “These will reflect in our net interest margin for 2012-13.” While declining to comment on net non-performing assets in percentage terms, he said it has “certainly improved” from the 0.85 per cent as on December 31, 2012.