Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Feb 12: Public sector Syndicate Bank has achieved total turnover of five lac crore rupees and net profit of Rs 435 crore during its third quarter of the current financial year. This was revealed by the bank's managing director and chief executive officer Mrutyunjay Mahapatra.

He gave this information at a press meet organized at the corporate office of the bank at Gandhinagar here on Tuesday February 11. "The bank's net profit during the third quarter of last year stood at Rs 108 crore, and it has gone up to Rs 435 crore now. Operating profit which was Rs 634 crore during last December, went up to Rs 1,336 crore now, which has shown year-to-year growth of 111 percent," he said.

He also informed that the bank has created a new record by reaching total turnover figure of five lac crore rupees. Non-performing assets of the bank, which stood at 12.54 percent of total advances as at December 2018 came down to 11.33 percent now, he stated.

Bank's executive directors S Krishnan and Ajai K Khurana and chief finance officer U S Mujumdar and others were present at the press conference.