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Marginal rise in Syndicate Bank’s Q4 net - 2014

Syndicate Bank's profits grew marginally by 1.86 per cent to Rs. 416.92 crore for the fourth quarter (Q4) of financial year 2014-15 as against Rs. 409.30 crore in the same period last year.

Total income of the bank in Q4 is higher by 23.17 per cent to Rs. 6,599.13 crore as against Rs. 5,357.40 crore recorded last year. EPS (basic) of the bank stood at Rs. 6.67(last year Rs. 6.58).

Operating profits of the bank is higher by 20.42 per cent and stood at Rs. 1,201.33 crore in Q4 FY 2014-15 as against Rs. 997.61 crore during the same period last year.

Addressing reporters on banks performance, T K Srivastava, executive director, Syndicate Bank said during the fourth quarter, bank's profit was affected by higher provisioning for bad loans and containing slippages in non- performing assets."

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