Syndicate Bank - Q3FY13 Result First-Cut - Microsec

Syndicate Bank Ltd has announced its Q3FY13 result on 23rd January 2013.

The bank's total income increased by 0.55% QoQ and 6.63% YoY to INR1669.10 crores. Whereas, Profit After Tax (PAT) increased by 9.97% QoQ and 50.48% YoY to INR508.49 crores due to tax write back of INR174 crores. During the quarter, bank has increased its provisions and contingencies by 10.50% QoQ and 16.81% YoY to INR529.98 crores.

Bank's loans book and total deposits expanded by 17.26% and 14.64% YoY to INR134629 and INR164075 crores respectively. On the asset quality front, bank has improved its asset quality, NNPA and GNPA improved by 7bps and 16bps QoQ to 0.85% and 2.31% respectively. Moreover, Capital Adequacy Ratio (CAR) stood at 11.38%, which is 2.38% higher than the regulator's stipulated norm. On the margin front, Net Interest Margin decreased by 6bps QoQ and 18bps YoY to 3.27%.

Source : Equity Bulls

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