Syndicate Bank Q2 net jumps 132%

Syndicate Bank has registered 131.79% growth in net profit at Rs 175.19 crore in the second quarter ended September 30, 2005 as against Rs 75.58 crore in the quarter ended September 30, 2004.

According to a release issued by Syndicate Bank to the BSE today, total income increased to Rs 1,117.9 crore in Q2FY06 from Rs 1,045.58 crore in Q2FY05.

The board also cleared a proposal to raise subordinate debt of Rs 300 crore with a greenshoe option of Rs 200 crore (total Rs 500 crore) under Tier II bonds.