The Hindu : Business / Briefly : Syndicate Bank Q2 business at Rs. 70,000 crores

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Saturday, Dec 11, 2004

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Business - Briefly

Syndicate Bank Q2 business at Rs. 70,000 crores

HUBLI: Syndicate Bank has been on the fast upward track for the past three years, and the performance has exceeded the parameters laid down by the Reserve Bank of India and other agencies. This was stated here on Thursday by Rajendra Kumar Abrol, Senior General Manager of the bank. Talking to newsmen, Mr. Abrol said the bank had ended the second quarter of the financial year by posting a net profit of Rs. 200 crores and was among the top five nationalised banks. He said that it had recorded a business of Rs. 70,000 crores, comprising Rs. 50,000 crores of deposits and Rs. 21,000 crores of advances. The bank had now undertaken a programme for increasing advances to certain strategic areas such as agriculture, small-scale industries and retail activities. The bank had introduced a new scheme for the ryots called Kisan Samridhdhi Yojana, under which it was sought to meet the requirement of loan for production, investment and consumption of the farmers. Two other schemes to help women (Synd Mahila) and also finance the holiday travel for (Synd yatra) the middle class had also been launched by the bank, he said. — Our Special Correspondent

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