Public sector lender Syndicate Bank has raised Rs 200 crore from the government of India by issuing 22.63 million equity shares through preferential allotment to augment its capital in order to meet the requirements of Basel-II and Basel-III. The bank has received shareholders approval on January 10, 2013.
Further, the bank has allotted 22,634,676 equity shares of face value of Rs 10 each on January 13, 2013 for cash at a premium of Rs 78.36 determined in accordance with Regulation 76 (1) of SEBI (ICDR) Regulations aggregating to Rs 1,999,999,971.36.
Syndicate Bank has reported a rise of 1.46% in its net profit at Rs 470.12 crore for the quarter ended September 30, 2013 as compared to Rs 463.37 crore for the same quarter in the previous year. Total income of the bank increased by 6.69% at Rs 4850.35 crore for quarter under review as compared to Rs 4546.33 crore for the quarter ended September 30, 2012.
Further, the bank has allotted 22,634,676 equity shares of face value of Rs 10 each on January 13, 2013 for cash at a premium of Rs 78.36 determined in accordance with Regulation 76 (1) of SEBI (ICDR) Regulations aggregating to Rs 1,999,999,971.36.
Syndicate Bank has reported a rise of 1.46% in its net profit at Rs 470.12 crore for the quarter ended September 30, 2013 as compared to Rs 463.37 crore for the same quarter in the previous year. Total income of the bank increased by 6.69% at Rs 4850.35 crore for quarter under review as compared to Rs 4546.33 crore for the quarter ended September 30, 2012.
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