SYNDICATE BANK SHIFTING CORPORATE HQ TO BANGALORE
Article Abstract:
Syndicate Bank, Manipal, plans to shift its corporate headquarters to Bangalore in the next two to three months. This expansion plan is funded by a loan from the World Bank. The Bank plans to form a complete communications network among all metro branches with Bangalore as a hub. Initially, the computer division, the corporate office and a wing of the credit department are to be relocated to Bangalore. In 1997-98, the bank's net profit rose by 23.45 percent to Rs82.66 crore (Rs66.96 crore in 1996-97) while total business generated increased by 13.5 percent to Rs24,500 crore. Its gross income increased to Rs1,913.45 crore (Rs1,754.50 crore). Operating profit increased by 36.82 percent to Rs135.40 crore (Rs98.65 crore). (gsh)
Comment:
Plans to shift its corporate headquarters from Manipal, India, to Bangalore, India, in the next 2 to 3 months
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SYNDICATE BANK AIMS TO OPEN 2000 BRANCHES
Article Abstract:
As part of its expansion plan to have 2,000 branches by the year 2000, Syndicate Bank (SB) has identified 50 potential centres in Kerala for opening branches in the next 3 years. It will open 3 branches in Guruvayoor, Kunnamkulam and Angamali in a month. SB's Thiruvananthapuram zone netted deposits of Rs983 crore in the first half of 1998-99. About Rs307 crore loans were extended and Rs595 crore of recoveries made in this zone. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICICI CREDIT CORP TO OPEN 60 NEW BRANCHES
Article Abstract:
ICICI Credit Corporation Ltd (ICCL) proposes to set up 60 additional branches in India in two years. ICCL is a subsidiary of Industrial Credit and Investment Corporation of India (ICICI) Ltd. It plans to concentrate on retail banking to cater to individual household investor. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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