Mumbai: PSU lender Syndicate Bank on 8 May reported an almost ten-fold jump in net profit for the fourth quarter ended 31 March to Rs104.30 crore as compared to Rs10.31 crore in the same period a year ago.
Total income of the lender, established in 1925, also increased to Rs1,930.40 crore, registering a 54% growth over Rs1,255.06 crore in the January-March quarter in 2006, Syndicate Bank informed the Bombay Stock Exchange.
The board of directors of the Udupi-based bank has proposed a final dividend of 13% for the year 2006-07, in addition to the interim dividend of 15%.
Syndicate Bank posted a net profit of Rs716.07 crore for the year ended 31 March 2007, as compared to Rs536.49 crore in the previous fiscal.
Total income increased to Rs6,658.55 crore during the 12-month period ended 31 March as compared to Rs4,612.38 crore in 2006.