Mumbai: Syndicate Banks net profit for the fourth quarter ended 31 March 2002 was at Rs 22.42 crore as compared to Rs 22.13 crore in the corresponding period previous year. The bank has declared a dividend of 12 per cent for the year on a par issue.
The total income of the bank stood at Rs 817.40 crore (Rs 800.48 crore). This is inclusive of the interest earned at Rs 762.73 crore (Rs 744.31 crore) and the other income at Rs 54.67 crore (Rs 56.17 crore). The total expenditure of the bank was at Rs 753.20 crore (Rs 757.50 crore). The operating profit stood at Rs 64.20 crore (Rs 42.98 crore).
For the year ended 2001-2002, the banks net profit grew to Rs 250.55 crore as compared to Rs 234.94 crore last year. The banks global business surpassed Rs 44,058 crore as at March 2002, comprising deposits of Rs 28,548 crore and advances of Rs 14,510 crore. The growth under deposits and advances were 13.76 per cent and 13.54 per cent, respectively.
Investments rose from Rs 10,550 crore to Rs 11,910 crore. The non-performance assets (NPA) recovery during the year amounted to Rs 198.62 crore. The net NPA of the bank as a percentage of its net advances was 4.63 per cent. The banks capital adequacy ratio remained at 11.72 per cent.