Syndicate shows flat profit

Syndicate Bank, the Manipal-headquartered public sector lender, today said its net profit remained flat at Rs 265 crore for the first quarter ended June 30, compared to the Rs 262 crore during the same period last year. This was mainly due to a steep drop of 93 per cent in its treasury profits, which was Rs 20 crore, compared to Rs 270 crore in the corresponding quarter.