Syndicate Bank profit up

Syndicate Bank has achieved an operating profit of Rs. 181.44 crores for the first half of the current year against Rs. 155.75 crores, a growth of 16.4 per cent. The net profit has increased to Rs.128.14 crores from Rs. 126.33 crores. The growth in net profit was achieved by the bank after accounting for the VRS related expenditure of Rs.112.44 crores.

The capital adequacy ratio has improved further to 12.28 per cent from 11.45 per cent. Earnings per share has increased to Rs.2.72. The total business of the bank has increased during the first half of the year to Rs. 41,567 crores, with a year-on-year growth of 10.66 per cent.

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