Syndicate Bank aims to return to profit in Q4, eyes Rs 8-bn haul from NCLT

It has also set a target to recover Rs 30 billion from the recovery of non-performing assets

Public sector lender Syndicate Bank hopes to return to profit by March 2019 after posting losses in the past three quarters.  

The bank is betting big on recovery from NCLT (National Company Law Tribunal) proceedings, improvement in CASA ratio and reduction in the provision for treasury operations to turn itself profitable by the end of this financial year.

"During the first two quarters, some of the required resolutions under the Insolvency and Bankruptcy Code (IBC) did not take place. Now, we are seeing a large number of resolutions coming in, as a result, we are expecting roughly Rs 7-8 billion will