Syndicate Bank
Simpliwork to invest Rs 750 crore to expand flex workspace portfolio
Managed flexible workspace provider Simpliwork Offices is planning to invest Rs 750 crore next fiscal to expand its portfolio and raise up to Rs 2,800 crore in equity and debt for future growth. Founded in 2018, Bengaluru-based Simpliwork Offices currently has an office portfolio of around 4.2 million square feet, roughly 50,000 desks, across major 8 cities. Salarpuria Sattva, one of the leading real estate firms in the country, with a large presence in the office market, has a 50 per cent stake in Simpliwork Offices. Kunal Walia, the founder and CEO of Simpliwork, along with some other investors, holds the remaining stake. In an interview with PTI, Walia noted that the leasing of flexible office space rose during the 2022 calendar year, and demand continues to be strong from large enterprises. The overall leasing of office space crossed 45 million square feet last year, after two years of slowdown due to the COVID pandemic, he highlighted. "Specifically, within that demand, we h
 "Simpliwork to invest Rs 750 crore to expand flex workspace portfolio")
Syndicate Bank fraud case: Enforcement Directorate attaches Rs 5-cr assets
The central probe agency said its investigation in the case was initiated on the basis of an FIR filed by the Bengaluru Police
 "Syndicate Bank fraud case: Enforcement Directorate attaches Rs 5-cr assets")
How the PSU bank merger that comes into force on April 1 will impact you
PSU Bank merger: You'll have to take stock of your cheque books, passbooks, IFCS, ECS mandates and other things once you start dealing with the new entity
 "How the PSU bank merger that comes into force on April 1 will impact you")
CBI books Gaursons chief's son for cheating BoB, Syndicate Bank of Rs 80 cr
Gaursons chairman's son held for cheating Bank of Baroda, Syndicate Bank of Rs 80 Cr: CBI
 "CBI books Gaursons chief's son for cheating BoB, Syndicate Bank of Rs 80 cr")
Market Ahead, April 1: Top Factors That Could Guide Markets Today
Starting today, automobile companies will starting releasing sales numbers for March. According to a Business Standard report, these auto sales for the month could see a 50 per cent YoY
 "Market Ahead, April 1: Top Factors That Could Guide Markets Today")
Coronavirus outbreak disrupts PSB merger as banks put programmes on hold
According to the banks, they have either put the sessions on hold or are opting for e-learning instead of classroom sessions.
 "Coronavirus outbreak disrupts PSB merger as banks put programmes on hold")
Syndicate Bank Q3 profit up at Rs 435 cr, NPAs down to 11%
Gross bad loans or NPAs came down to 11.33 per cent of gross advances as on December 31, 2019 from 12.54 per cent at the end of the same month a year ago.
 "Syndicate Bank Q3 profit up at Rs 435 cr, NPAs down to 11%")
Syndicate Bank surpasses Rs 5 trillion business target ahead of schedule
The bank crossed Rs 5 trillion total business mark at the end of December 31, 2019
Taking steps for smooth functioning of branches on Jan 8: Syndicate Bank
Ten central trade unions have called a nation-wide general strike on January 8 'to protest against anti-labour policies' of the government
 "Taking steps for smooth functioning of branches on Jan 8: Syndicate Bank")
30 committees monitoring the Canara-Syndicate Bank merger process
After the merger, the combined entity will also see a higher number of chief general managers
 "30 committees monitoring the Canara-Syndicate Bank merger process")
Post-merger, turnover of Syndicate Bank and Canara Bank will be Rs 15 trn
Canara Bank Chairman T N Manoharan said his bank was having a business of Rs 10 trillion and the Syndicate Bank R.five trillion
 "Post-merger, turnover of Syndicate Bank and Canara Bank will be Rs 15 trn")
Syndicate Bank posts Rs 251-cr Q2 profit, versus Rs 1,543-cr loss last year
The bank's provisioning for bad loans and contingencies came down to Rs 639 crore during the quarter as against Rs 2,217 crore in the same period a year ago
 "Syndicate Bank posts Rs 251-cr Q2 profit, versus Rs 1,543-cr loss last year")
LVB, Syndicate Bk hit 52-wk low as RBI imposes penalty for violating norms
The RBI imposed a monetary penalty of Rs 1 crore on Lakshmi Vilas Bank Ltd for non-compliance with certain provisions of directions issued by RBI on IRAC norms
 "LVB, Syndicate Bk hit 52-wk low as RBI imposes penalty for violating norms")
RBI imposes fine on Lakshmi Vilas Bank, Syndicate Bank for violating norms
This action is based on the deficiencies in regulatory compliance
 "RBI imposes fine on Lakshmi Vilas Bank, Syndicate Bank for violating norms")
Merger of PSBs: Tech integration may take 1 year, says Syndicate Bank's MD
As Canara Bank and Syndicate Bank are going to be one entity, it will not be proper to fight bitterly in the market, says Mrutyunjay Mahapatra
 "Merger of PSBs: Tech integration may take 1 year, says Syndicate Bank's MD")
Government creates banking behemoths to boost India's flagging economy
News of the mergers comes minutes before official data is expected to confirm a fifth-straight quarter of slowing economic growth
 "Government creates banking behemoths to boost India's flagging economy")
Amalgamating 10 govt banks into 4 entities in mega consolidation move: FM
After today's mergers, the count of government-owned banks will come down to 12 from 27 in 2017
Syndicate Bank expects to recover Rs 4,000 cr in bad loans in FY20
The bank has recovered about Rs 800 crore in the first quarter and the target for the current fiscal is Rs 4,000 crore, said Syndicate Bank Managing Director Mrutyunjay Mahapatra
Syndicate Bank narrows Q1 net loss to Rs 980 crore as bad assets fall
The bank had posted a net loss of Rs 1,281.77 crore in the corresponding April-June period of the previous fiscal
Syndicate Bank narrows losses in Q1; asset quality remains stable
The public sector lender is confident of posting Rs 500 cr net profit in FY20
