Date:01/08/2008 URL: http://www.thehindu.com/2008/08/01/stories/2008080156261800.htm

Business - Briefly

Syndicate Bank Q1 net dips

BANGALORE: Syndicate Bank’s net profit in the first quarter of 2008-09 fell by over 60 per cent to Rs. 87.89 crore as compared to Rs. 221 crore in the same quarter in the previous year, mainly on account of higher provisioning of Rs. 261 crore for mark-to-market stipulations. Net interest income also fell to Rs. 503 crore from Rs. 547 crore. — Special Correspondent