Syndicate Bank - Q4FY13 Result - First-Cut - Microsec

Syndicate Bank announced its Q4FY13 result on 2nd May 2013.

The bank's total income increased by 4.47% QoQ and 6.56% YoY to INR1743.65 crores. Whereas, Profit After Tax (PAT) increased by 16.49% QoQ and 91.43% YoY to INR592.34 crores. Bank has decreased its provision by 31.36% QoQ and 45.82% YoY to INR363.79 crores which leads to improve its bottom line.

During the quarter, bank's loan book and total deposits expanded by 19.37% and 17.36% YoY to INR147569 and INR185356 crores respectively. On the asset quality front, bank has improved its asset quality. GNPA and NNPA improved by 32 and 9bps QoQ and 54 and 20bps YoY to 1.99% and 0.76% respectively. Moreover, bank's is in well position to tame any time liabilities with 83.41% of its Provision Coverage Ratio (PCR). Capital Adequacy Ratio (CAR) stood at 12.59% which is 3.59% higher than the regulator stipulated norm.

In FY13, bank's topline increased by 7.59% YoY to INR6628.41crores whereas, bottom line increased by 52.61% YoY to INR2004.42 crores.

Source : Equity Bulls

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