17 Jan 2021 | 2:44 AM


Syndicate Bank posts Q1 net loss of Rs 980.46 cr
  Syndicate Bank | 17 Jan 2020 | 10:51 AM
Published on 07-24-2019
The bank reported standalone net loss during the quarter stood at Rs 980.46 crore as compared to net loss of Rs 1281.77 crore in the previous year quarter.

Interest income of the bank rose by 5.47 per cent at Rs 5544.79 crore for the quarter ended June 30 2019 as against Rs 5257.19 crore in the corresponding period last year.

During the April-June quarter total income rose moderately by 7.86 per cent to Rs 6080.69 crore from Rs 5637.51 crore in the year ago period.

Meanwhile operating expenses increased by 3.78 per cent to Rs 5270.96 crore from Rs 5078.90 crore in the same period last year.

Operating profit surged 44.95 per cent to Rs 809.73 crore from Rs. 558.61 crore.

Provisions and Contingencies slipped by 15.37 per cent at Rs 1969.09 crore from Rs 2326.82 crore a year ago.

NII the difference between interest earned on loans and interest paid on deposits increased by 18.99 per cent at Rs 1791.78 crore versus Rs 1505.85 crore in the year ago period. Non-interest income rose 40.91 per cent year-on-year to Rs 535.90 crore.

On the asset side gross non- performing assets (NPAs) fell to 11.76 per cent of the gross advances as at the end of June 30 2019 from a level of 12.59 per cent year earlier. Its net NPAs or bad loans too declined to 5.06 per cent of net advances on June 30 2019 from 6.64 per cent a year ago.