Syndicate Bank H1 net up 51%
By Our Banking Bureau | 21 Oct 2003
Manipal: Syndicate Bank has registered a 50.79-per cent increase in its net profit during the first half of the current fiscal ended 30 September 2003. Profit for the period stood at Rs 216.45 crore as against Rs 143.54 crore for the corresponding period of the previous year.
The operating profit for the half-year ended 30 September has recorded an increase of 67.85 per cent over the corresponding period the previous year. It recorded an operating profit of Rs 442.91 crore for the half-year ended 30 September, whereas it was Rs 265.80 crore for the corresponding period the previous year.
Says Syndicate Bank chairman and managing director Michael Bastian: "The bank's board has taken a decision to pay interim dividend at 10 per cent subject to the approval of the Reserve Bank of India."