Bangalore, July 18: Syndicate Bank on Friday reported a net profit of Rs 101.85 crore for the first quarter ended June 30, 2003, up by 28.26 per cent over the corresponding quarter of last fiscal at Rs 79.41 crore. Announcing the quarterly results, the bank said in a statement that owned funds increased by 12.84 per cent from Rs 1489.62 crore as on June 30,2002, to Rs 1680.95 crore on June 30, 2003.

Capital Adequacy Ratio moved up from 12.71 per cent to 12.94 per cent as at the corresponding quarter ends. Earnings per share was at Rs 8.64 on an annual basis compared to Rs 6.72 of the corresponding quarter of the previous fiscal.
Finance to the housing sector touched an all time high of Rs 1717 crore, it said.
Credit to the retail sector under Personal Banking Scheme increased substantially at Rs 1,800 crore as on June 30, 2003 from Rs 1038 crore as on June 30, 2002, the statement added. Bureau Report