Syndicate Bank Q1 net rises 29% to Rs 343 cr

Syndicate Bank has posted net profit for the first quarter ended June, 2011, at Rs 343 crore, up 29% from Rs 266 crore in the corresponding quarter a year ago.

Net Interest Income (NII) for the quarter under review was registered at Rs 1,108 crore which increased 15% from Rs 964 crore in the same quarter a year ago.

The shares of the bank were trading up 5% at Rs 122 per share on the Bombay Stock Exchange.