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Syndicate Bank posts lower profit

BANGALORE: Syndicate Bank has maintained the equity dividend at Rs. 3 per share for the year ended March 31, 2010. The bank has achieved a lower net profit of Rs. 813 crore againt Rs. 913 crore, due to higher provision towards taxation of Rs. 361 crore (Rs. 112 crore) and wage arrears of Rs. 220 crore (Rs. 75 crore). Total business has crossed the Rs. 2 lakh crore mark to Rs. 2,08,476 crore against 1,98,380 crore.

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