Q3 FY 2019-20 RESULTS
Achieved the Landmark figure of Rs. 5 Lakh Crore Business.
Bank has reported Net Profit of Rs 435 crore in Q3 FY 2019-20 as against Net Profit of Rs. 108 crore in Q3 of FY 2018-19.
The Operating Profit increased by 111%, from Rs.634 crore in Dec-2018 quarter to Rs.1336 crore in Dec-2019 quarter.
The Net Interest Income (NII) has increased by 16%, from Rs.1619 Crore in Dec-2018 quarter to Rs.1871 Crore in Dec-2019 quarter.
Domestic NIM has increased by 46 bps from 2.80% in Dec- 18 Quarter to 3.26% in Dec-19 Quarter.
CASA deposit has increased by 8.13% on Y-o-Y.
Overall Cost to income ratio has declined from 71.68% as on Quarter ended Dec-18 to 52.06% as on Quarter ended Dec-19.
Gross NPA Ratio declined from 12.54% as on Dec-18 to 11.33% as on Dec-19.
Net NPA Ratio declined from 6.75% as on Dec-18 to 5.94% as on Dec-19.
Provision Coverage Ratio has improved from 64.81% as on Dec-18 to 69.28% as on Dec-2019.
The CRAR Ratio improved from 12.46% as on Dec 18 to 14.36% as on Dec 2019. CET has improved from 7.65% as on Dec 18 to 9.51% as on Dec 2019.
Performance Highlights for the Third Quarter of FY 2019-20
The interest income for quarter ended Dec-2019 is Rs.5,403 crore as against Rs.5,459 crore in its corresponding period of previous year.
The other income increased by 48% to Rs.915 crore for the quarter ended Dec-2019 as against Rs.619 crore in corresponding quarter of previous year. The increase is mainly due to increase in recovery in written off advances.
The Interest expenses decreased by 8% from Rs.3,840 crore in Dec-2018 quarter to Rs.3,532 crore in Dec-2019 quarter.
Net Interest Income (NII):
The Net Interest Income (NII) has improved by 16% from Rs.1619 Crore in Dec-2018 quarter to Rs.1871 Crore in Dec-2019 quarter.
The operating expenses decreased by 10% from Rs.1,604 crore in Dec-2018 quarter to Rs.1,450 crore in Dec-2019 quarter.
The operating Profit for Dec-2019 quarter increased by 111% from Rs.634 crore in Dec-2018 quarter to Rs.1,336 crore in Dec-2019 quarter.
Provisions & Contingencies:
The Bank has made provision and contingencies of Rs.901 crore during Dec-2019 quarter against Rs.526 crore during Dec-2018 quarter.
The Bank made net profit of Rs. 435 crores for the Quarter ended Dec-2019 against a net profit of Rs.108 crores during Dec-2018.
Other Financial Ratio:
Quarter Ended Comparison
Q 3, Ended
Q 3, Ended
Cost of Deposits (%)
Cost of Funds (%)
Yield on Advances (%)
Yield on Funds (%)
Net Interest Margin (NIM) (Ann) (%)
Cost to income Ratio (%)
Earnings Per Share (Ann.) Rs.
Return of Assets (Ann.) (%)
The Bank’s Total Business increased to Rs.5,00,971 crore as on Dec of 2019 as against Rs.4,67,911 crore recorded in Dec of 2018 showing as increase of 7%. The Domestic Business increased to Rs.4,44,033 crores as on Dec 2019 as compared to Rs.4,04,304 crore reported in its earlier corresponding period.
The Bank’s Total deposits increased to Rs.2,77,368 crore as on Dec 2019 as against Rs. 2,59,064 crore in its corresponding period of a year ago.
The total Advance as on Dec 2019 increased to Rs.2,23,603 crore as against Rs.2,08,847 crore in its corresponding period of a year ago. Retail and Agriculture advances have shown growth of 7% and 10% respectively.
Priority Sector Advance:
(Rs. in Crore)
% of ANBC
Other Priority Sector
Investment Portfolio stood at Rs 74,504 crore as on Dec 2019 against Rs.80,731 crore during corresponding period of previous year i.e. Dec 2018.
Other Performance Indicators:
Capital Adequacy Ratio (CAR):
The CAR (Basel III) improved from 12.46% as on Dec 2018 to 14.36%as on Dec 2019. The Tier 1 capital has improved from 9.68% as on Dec 2018 to 11.56% as on Dec 2019. The CET improved from 7.65% as on Dec 2018 to 9.51% as on Dec 2019.
Net Interest Margin (NIM)
Domestic NIM improved by 46 bps from 2.80% in Dec 2018 quarter to 3.26% in Dec 2019 quarter. Global NIM improved by 42 bps from 2.48% in Dec 2018 quarter to 2.90% in Dec 2019 quarter.
The Gross NPA declined to Rs.25,330 crore as at Dec 2019 from Rs.26,185 crore during Dec 2018 and in percentage terms, the Gross NPA ratio declined from 12.54% to 11.33% Y-o-Y.
The Net NPA declined to Rs. 12,514 crore as at Dec 2019 from Rs. 13,211 crore during Dec 2018 and in percentage terms, the Net NPA ratio declined from 6.75% to 5.94% Y-o-Y.
The Net worth of the Bank stood at Rs.12,712 crore as on Dec 2019 in comparison to Rs. 10,764 crore as on Dec 2018 and Rs. 12,222 crore as on Sept 2019.
Customer Centric New Initiatives:
To enhance the customer convenience and to promote banking from home & mobile, in revamped version of Mobile Banking app, Bank has enabled 9 Regional Languages in addition to Hindi & English, Enrolment for micro accidental death insurance, micro life insurance and social security pension scheme, NEFT, Debit card pin generation, Issuance of certificate of interest for loan accounts, Issuance of TDS / Form 16 Certificate along with many other facilities.
Launched VISA Gold Braille Debit Cards for the visually impaired customers.
Launched VISA Business Platinum Debit card for sole proprietorship, partnership and for Private and Public Ltd. companies.
In Loan Management System bank has enabled tracking of loan documents for time bound return (15 working days) upon financial closure.
For effective monitoring and speedy disposal of deceased claims, portal has been developed and made live.
More services have been enabled in Bank Mitra (BC) channel.
Bank has adopted Repo rate as External Benchmark and introduced EBLPR to pass on benefits of policy rate cuts to Retail & MSE borrowers.
SyndNivas Senior Scheme – A special housing loan product designed for Sr.Citizens with extended entry age of 70 years and extended exit age of 80 years (or loan tenure of 30 years whichever earlier).
SyndNivas Super gain (CASA) is a unique scheme where a Housing Loan Account (Term Loan) will be linked to Savings Account, and in the linked Saving Account, Housing Loan Borrower can deposit surplus money as an advance payment and withdraw the surplus amount as per his/her needs.
SyndBank Prime Home Loan – Under home loans of above Rs.50 lacs certain incentives are given to customers like-
1) Small/Medium Locker facility free of rental for 1 year, subject to availability of the Lockers.
2) Credit card facility with free of charges for 1 year (as per eligibility).
3) Free personalized Cheque book for entire tenure of the Loan.
Our SyndKuteer product has been modified to suit LIG & EWS.
Synd BEML: Bank has introduced exclusive MSME product for financing machinery from BEML such as earth moving, construction and mining operation equipment.
SyndTReDS: Bill discounting facility on the RXIL platform for immediate conversion of trade receivables to liquidity for the MSMEs.
SyndMSME Add-on Credit: Additional credit to existing MSME borrowers to meet the temporary liquid mismatch arising out of delayed realization of receivables.
Blockchain technology is being used in ATM and procurement.
Revamped our website & Internet Banking.
SyndInsta is introduced to let out lockers for shorter periods ranging from one day to sixty days to meet the specific requirement of the public who go out on vacation,pilgrimage, official tour etc.
Rupay Select Credit Card launched for High Net worth individuals with minimum limit for this card at Rs. 1 lakh with no upper limit.
ATM Monitoring Tool – Effective end-to-end real-time monitoring of ATMs, BNAs, Self Service Passbook Printing Kiosk (SSPBPK) and Cheque Deposit Kiosk.
Crossed figure of 1 lakh PPF accounts with an addition of 76,602 PPF accounts registering a growth of 121% over 31.03.2019, as on Nine Months ended on 31.12.2020.
In Q3 there is sequential increase of 148% in APY, 45% in PMJJBY and 41% in PMSBY over Q2.
Bank has launched BalUtsav campaign, a special drive to canvass student’s SB accounts on ‘Children’s Day’ by imparting financial literacy. A total of 26,427 student accounts opened during a short span of ten days.
Launched National Common Mobility Card (NCMC) – Syndicate Bank has become the First Commercial Bank in India to lauch NCMC under Government of India’s “One Nation One Card” program. The card can be utilized for multi purposes ie. Withdrawing money from ATM as well as making contemporary payment systems like Toll payments, Parking charges, Transit operators etc.
Awards & Accolades:
The Bank has received “APY Formation Day (FY 2019-20)” award from PFRDA in the Category of Best Performing Public Sector Bank for our outstanding performance in APY enrollments.
Best Chief Information Officer award received among Indian Banks along with Hall of Fame CIO 100 award in 2019.
Our Bishara Branch (Noida RO) has been awarded with Uttar Pradesh Farmers Producers Organization(FPO) Honour Award 2019-20 from Govt. of Uttar Pradesh.
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