Syndicate Bank today reported 28.28% growth in net profit at Rs 440 crore for the first quarter ended June 30, 2012, compared to Rs 343 crore reported in the same quarter last year.
Interest Income during the quarter stood at Rs 4,242 crore, up by 24.80% as against Rs 3,399 crore in the corresponding period last year, the bank said in a statement.
Announcing financial results for the quarter ended June 30, 2012, the company said other income declined to Rs 236 crore, a negative growth by 18.90% in the quarter compared to Rs 291 crore earned in the same period last year.
Gross NPA came down slightly from 2.39% to 2.38% in this quarter, but net NPA remained at 0.93%, it said.
Domestic business registered a 15.03 growth to Rs 2,57,715 crore from Rs 2,24,041 crore, while domestic deposits grew 15.97% to Rs 1,45,283 crore from Rs 1,25,277 crore.
Domestic advances grew by 13.84% to Rs 1,12,432 crore from Rs 98,764 crore, while global advances registered a 16.85% growth to Rs 1,29,171 crore from Rs 1,10,547 crore.
Global business improved from Rs 2,43,436 crore to Rs 2,86,447 crore showing a growth rate of 17.67%, the company said.
Global deposits grew from Rs 1,32,889 crore to Rs 1,57,276 crore, a growth of 18.35%, it said.