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Syndicate Bank.

BSE: 532276 Sector: Financials
NSE: SYNDIBANK ISIN Code: INE667A01018
BSE 00:00 | 20 Jun 47.65 0.10
(0.21%)
OPEN

47.90

HIGH

48.00

LOW

47.25

NSE 00:00 | 20 Jun 47.55 0
(0.00%)
OPEN

47.90

HIGH

47.90

LOW

47.15

OPEN 47.90
PREVIOUS CLOSE 47.55
VOLUME 90244
52-Week high 95.65
52-Week low 42.75
P/E
Mkt Cap.(Rs cr) 6,753
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 47.90
CLOSE 47.55
VOLUME 90244
52-Week high 95.65
52-Week low 42.75
P/E
Mkt Cap.(Rs cr) 6,753
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Syndicate Bank. (SYNDIBANK) - Director Report

Company director report

The Board is pleased to present Directors' Report of the Bankalong with the Audited Balance Sheet as at 31st March 2018 and the Profit & LossAccount Statement for the Financial Year ended 31st March 2018.

Financial Performance

The snapshot of your Bank's financial performance is as below: (`in crore)

Particulars

31.03.2017

31.03.2018

Variation (%)

Total Deposits

260561

272776

4.69

Of which-Domestic Deposits

234543

241092

2.79

Overseas Deposits

26018

31684

21.78

Domestic Deposits

234543

241092

2.79

Of which-Current Account Deposits

11535

12016

4.17

Savings Deposits

64257

68346

6.36

CASA Deposits (Domestic)

75792

80362

6.03

Domestic CASA to Domestic
Deposits (%)

32.32

33.33

Advances

207065

223346

7.86

Of which-Domestic Advances

171377

181477

5.89

Overseas Advances

35688

41869

17.32

Total Assets

323977

299073

-7.69

Net Interest Income (NII)

6276

6552

4.40

Other Income

3457

2806

-18.83

Of which-Fee Income

757

710

-6.21

Profit on sale of Investment

1740

946

-45.63

Recovery from Prudential written off
accounts

376

488

29.79

NII+ Other Income

9733

9358

-3.85

Operating Expenses

5500

5494

-0.11

Operating Profit

4233

3864

-8.72

Provisions

3581

8253

130.47

Of which; Provisions for NPAs & Bad debts written off

3694

7707

108.64

Profit Before Tax

652

-4389

-

Provision for Tax

293

-1166

-

Net Profit

359

-3223

-

Appropriations/Transfers
Statutory Reserve

90

0

Capital Reserve

96

62

Revenue and other Reserves

-

-

(i) General Reserve

0

-3285

(ii) Special Reserve u/s 36(l)(viii) of the Income Tax Act 1961

173

0

(iii) Investment Reserve Account

0

0

(iv) Transfer from Excess Appropriation of previous year

0

0

Key Performance Indicators
Average Cost of Funds

5.53

4.94

Average Yield on Funds(%)

7.60

7.06

Average Earning Assets

265325

268375

Net Interest Margin (%)

2.37

2.44

Cost-Income Ratio (%)

56.51

58.71

Return on Assets (ROA) (%)

0.12

-1.05

Return on Equity (%)

3.02

-26.68

Book Value per share (`) inclusive of revaluation reserve FCTR& Net DTA

154.64

105.43

EPS (`)

4.21

-34.00

*Face value of the share `10/-

The financial year 2017-18 had been a mix of opportunities andchallenges. Despite the challenges your Bank performed well during the year leveragingvarious market opportunities.

The total business of your Bank increased from `467626 crore as ofMarch 31 2017 to `496122 crore as of March 31 2018 posting a growth of 6.09% over theprevious year. The net interest income (NII) of the bank increased by 4.40% to `6552crore as of March 31 2018 while other income decreased by 18.83% to `2806 crore.

Your Bank posted an operating profit of `3864 crore during FY 2017-18registering a decline of 8.72%. The provision cost (other than taxes) increased by 130.47%to `8253 crore compared to `3581 crore last year.

For the year ended March 31 2018 the return on average assets was-1.05% while return on equity was -26.68%. The earnings per share (FV `10/-) were `-34.00.

Capital Adequacy Ratio (CAR) (in %)

31.03.2017

31.03.2018

Capital Adequacy-Basel III

12.03

12.24

CET-I

7.50

7.56

Tier-I

9.26

9.41

Tier-II

2.77

2.83

Capital Adequacy Ratio at 12.24% under Basel III was well above theregulatory requirements as of March 31 2018. Tier1 ratio was at 9.41% and common equityTier 1 (CET-1) was at 7.56% under Basel III framework. Bank raised `450 crore of debtcapital by way of AT-1 bonds `500 crore of debt capital by way of Tier II bonds andequity capital through QIP of `1150.80 crore followed by Government of India infusion of`2839 crore in the month of March 2018. Bank's Net Worth as of March 31 2018 was`11771 crore comprising paid-up equity capital of `1417 crore and reserves (excludingrevaluation reserves FCTR & Net of Intangible assets) of `10354 crore. The bookvalue of share (FV `10/-) was `105.43.