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Syndicate Bank net up 74% YoY

Jan 19, 2000

Syndicate Bank's big growth in profits has been driven by higher interest income,other income and better spreads. However this would have been higher had its provisions not grown by 357.3% YoY.

(Rs m) 3QFY2000 3QFY1999 Change
Interest earned 6,317.6 5,338.4 18.3%
Other Income 860.3 652.1 31.9%
Operating Expenses 1,933.2 1,726.2 12.0%
Interest expenses 4,123.0 3,702.6 11.4%
Operating profit 1,121.7 561.7 99.7%
Provisions 236.4 51.7 357.3%
Profit after Tax 885.3 510.0 73.6%
Net profit margin 12.3% 8.5%  

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