Syndicate Bank's net up 25 pc

 
The total income of the bank increased by 20 per cent to Rs 5,796 crore in the first half as compared to Rs 4,806 crore for the corresponding period, last year. Interest income increased by 13.87 per cent to Rs5,120 crore and profit from sale of investments was Rs 372 crore. But net interest income of the Bank decreased marginally by 3.34 per cent to Rs.1203 crore due to reduction in PLR.

At the end of the September 2009 total business of the bank grew by 17.09 per cent and stood at Rs1,93,488 crore. Its deposits reached Rs1,11,129 crore with a growth of 16.05 per cent as on 30th September 2009. The bank continued to shed its high-cost bulk deposits which decreased by 63 per cent over its September 2008 level.

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