The Hindu : Syndicate Bank pays 10 p.c. interim

Online edition of India's National Newspaper
Wednesday, Oct 22, 2003

Business

Business

Syndicate Bank pays 10 p.c. interim

Syndicate Bank has made allround progress during the first half of the current fiscal. The bank has announced an interim dividend of 10 per cent.

The global business has reached a level of Rs 49,443 crores from Rs. 43,771 crores in the period ended September 30, 2002. Domestic business accounted for 44,879 crores (Rs. 39,396 crores). Domestic deposits increased by 15.8 per cent to Rs. 30,963 crores from Rs. 27,3384 crores. The operating profit was Rs. 442.911 crores (Rs. 265.80 crores) and the net profit Rs. 216.45 crores (Rs.143.54 crores), according to a release.

Bharat Overseas Bank

Bharat Overseas Bank has achieved a net profit of Rs.13.54 crores for the first half of the current fiscal against Rs. 9.02 crores, an increase of 50 per cent. The operating profit has risen to Rs. 29.63 crores from Rs. 16.39 crores. Gross income has improved by 16 per cent on a year-on-year basis.

Aggregate deposits rose to Rs.2,211 crores from Rs. 1,976 crores and advances to Rs. 1,262 crores from Rs. 1,026 crores. The credit-deposit ratio was higher at 57 per cent against 51.9 per cent. The capital adequacy ratio was placed at 13.24 per cent. The net NPA stood at 2.69 per cent against 3.3 per cent.

Union Bank

Union Bank of India recorded a net profit of Rs. 325.75 crores for the half year ended September 2003, a growth of 57 per cent as compared to Rs. 207.27 crores recorded in the same period in 2002.

Overall operating profit was Rs. 618 crores against Rs. 501 crores. Provisions and contingencies aggregated Rs. 292.74 crores (Rs. 293.23 crores).

Earnings per share (EPS) went up to Rs. 14.16 from Rs. 9. The capital adequacy ratio improved to 13.34 per cent as on September 30, 2003 from 11.44 per cent. Retail lending stood at Rs. 5,564 crores against Rs. 4,151 crores, a growth of 34 per cent. Home loans almost doubled from Rs. 1,597 crores in September 2003. Disbursements during the half-year were Rs. 384 crores. Priority sector lending stood at Rs. 11,990 crores against Rs. 9,270 crores.

The business mix grew by Rs. 8,959 crores and touched Rs. 74,414 crores (Rs. 65,455 crores). Deposits touched Rs. 46,761 crores in the half-year (Rs. 41,760 crores). Advances aggregated Rs. 27,653 crores (Rs. 23,695 crores).

Printer friendly page
Send this article to Friends by E-Mail

Business