Syndicate Bank Q3 net profit at Rs 93 crore

Syndicate Bank Q3 net profit  at Rs 93 crore

Manipal-based public sector lender Syndicate Bank on Tuesday posted a net profit of Rs 93 crore for the quarter ended December 31, 2016. The public sector bank had posted a net loss of Rs 119 crore in the year-ago period.

The bank’s net interest income for the quarter ended December 31 was Rs 1,391 crore against Rs 1,516 crore during the corresponding period of last year. Gross NPA increased to Rs 16,948 crore against Rs 9,603 crore, which was at 8.69% of advances as on December 31. Global business was Rs 4,65,886 crore consisting deposits  of  Rs 2,70,795 crore and advances of Rs 1,95,091 crore for the quarter ended December 31.

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