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Syndicate Bank records Rs. 85,000 cr. turnover

By Our Staff Correspondent

BIDAR, APRIL 26. "Syndicate Bank's ranking in the country's banking sector has moved to the seventh position from last year's ninth position following an increase in its market share," D Shivakumar, Regional Manager of the bank, said in Bidar on Monday. "We are aiming to go up by two more notches to take the fifth place this year and we already have indicators strengthening our belief," he told presspersons.

The bank's turnover had increased to Rs. 85,000 crore this year over last year's Rs. 64,000 crore. As much as 45 per cent of the loans advanced by the bank had been given to farmers for agriculture, Mr. Shivakumar said and added that the bank was issuing Kisan identity cards to lakhs of farmers.

He said the value of the bank's shares had increased to Rs. 55.75. The Bijapur branch of the bank had made profits for the first time this year, he added.

Mr. Shivakumar noted that Syndicate Bank had started diversifying into insurance, maintenance of accounts, and other areas. The bank had also signed a memorandum of understanding with five other banks for sharing ATMs.

Earlier, Mr. Shivakumar participated in the inauguration of the new premises of the main branch of the bank at Sapna Complex, Udgir Road, Bidar. Sri Shivakumar Swamiji of Siddharoodh Math inaugurated the branch.

P Venkatesh, Chief Manager and B.L. Gajre, Manager of the Air Force Station branch, were present.

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