Syndicate Bank Q4 net at Rs 104 crore

Public sector lender Syndicate Bank on Tuesday posted a net profit of Rs 104 crore for the fourth quarter ended April 2017, even as it recorded an increase in its non-performing assets (NPAs).

The Manipal-headquartered bank had registered a loss of Rs 2,158 crore for the same quarter of the previous fiscal 2015-16. Its total income during the January-March quarter of the last fiscal rose to Rs 6,913 crore, against Rs 6,525 crore in the same period of 2015-16, Syndicate Bank said.

During the quarter, gross NPAs rose to 8.50%, against 6.70%, a year ago, while net NPAs also rose to 5.21%, against 4.48%.

However, provision (other than tax) and contingencies declined to Rs 1,268.20 crore, from Rs 2,382.97 crore in the same period, last year.