Syndicate Bank growth increases by 19%

Posted on Feb 11 2015 - 7:04pm by IBC News

Global deposits increased by 29% year on year asis in Q3, FY 2014-15.

Gross NPA stood at 3.60% in 2014-15, compared to 2.80% in FY 2013-14.

CASA deposits increased by 19% y-o-y basis.  Net Interest Margin stood at 2.25% in Q3 compared to 2.76%.

The bank has opened 101 branches during Q3, FY 2014-15taking the total number to 3463. With this the bank has presence in all states and union territories of the country.

Bank has opened 28,89,169 number of accounts under Pradhan Mantri Jan Dhan Yojana with a balance of 207.15 crore.

The bank launched a special campaign to augment the CASA base to popularize SyndBalashakthi among the children of 10years and above.