Syndicate Bank announces Financial Results for the Quarter ended 31st March, 2014

Performance Highlights for the Fourth Quarter of Financial Year 2013-14

• Operating Profit stood at' 998 crore in Q4, FY 2013-14 as against' 901 crore in Q4, FY 2012- 13 (up by 11% y-o-y). However, Net profit stood at' 409 crore in Q4, FY 2013-14 as against' 592 crore in Q4, FY 2012-13 (down by 31% y-o-y). The main reason for decline is non availability of MAT credit of Rs.114 crore accounted in the Q4 quarter of last year and increase in NPA provisions.

• Global business increased from ' 334779 crore as at Q4, FY 2012-13 to ' 388584 crore as at Q4, FY 2013-14 (up 16 % y-o-y). However, domestic Business increased from ' 291337 crore as at Q4, FY 2012-13 to v 330701 crore as at Q4, FY 2013-14 (up 14 % y-o-y)

• Global Deposits increased from ' 185356 crore as at Q4, FY 2012-13 to ' 212343 crore as at Q4, FY 2013-14 (up 15% y-o-y). However Domestic Deposits increased from ' 167055 crore as at Q4, FY 2012-13 to ' 186966 crore as at Q4, FY 2013-14 (up 12% y-o-y).

• Global Advances increased from ' 149423 crore as at Q4, FY 2012-13 to ' 176241 crore as at Q4, FY 2013-14 (up 18% y-o-y). However Domestic Advances increased from ' 124282 crore as at Q4, FY 2012-13 to ' 143735 crore as at Q4, FY 2013-14 (up 16% y-o-y)

• Domestic CASA deposits increased from ' 51926 crore as at Q4, FY 2012-13 to' 55911 crore as at Q4, FY 2013-14 (up 7.67% y-o-y). Domestic CASA deposits stood at 29.90 % of total domestic deposits as at 31.03.2014. Bank has taken various steps, campaigns to increase CASA performance.

• Savings Bank deposits has gone up by 11% from Rs.38,017 crore as on 31-03-2013 to Rs.42,030 crore as on 31-03-2014.