Financial Daily from THE HINDU group of publications
Wednesday, Apr 07, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 07, 2004 |
||
|
|
||
|
Money & Banking
-
Public Sector Banks Syndicate Bank business up 40 pc Our Bureau
Thiruvananthapuram , April 6 SYNDICATE Bank's total business crossed Rs 62,000 crore in 2003-04, marking an increase of about 40 per cent over the previous year. The business comprised deposits of Rs 41,000 crore and advances of around Rs 21,000 crore, according to Mr Michael Bastian, Chairman and Managing Director. Refusing to go into the details pending finalisation of the accounts, he, however, said here on Tuesday that the business had been going up by an average of Rs 1,000 crore per month over the last one-and-a-half years. Mr Bastian said the bank had made higher provisions for net non-performing assets and as a result, the net NPA was expected to come down to 3.5 per cent from 4.5 per cent in the previous year. On profitability, he said the bank had been operating on wafer-thin margins, with the interest spread having come down below 2 per cent.
More Stories on : Public Sector Banks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|