Annual (Director’s) Report 2009-2010 of Syndicate Bank

It is a broadly described annual (director’s) report of Syndicate Bank in the year of 2009-2010. During the financial year, The Bank’s business grew to Rs. 1,92,288 Crore in 2009-10 from Rs. 1,82,853 Crore in 2008-09. The Bank’s deposits increased to Rs. 1,09,689 Crore in 2009-10 from Rs. 1,08,688 Crore in 2008-09. Total income of the Bank increased by 7.42% to Rs. 11,215 Crore during the year 2009-10 compared to Rs. 10,440 Crore during 2008-09. The Operating Profit of the Bank for the year ended 31^st March 2010 stood at Rs. 1,873 Crore compared to Rs. 1,671 Crore as at 31^st March 2009 registering a growth of 12%. Net profit of the Bank declined by 11% from Rs. 913 Crore reported in the previous year to Rs. 813 Crore during 2009-10. The Earning per share (EPS) of the Bank decreased to Rs. 15.58 as on 31^st March 2010 from Rs. 17.49 as on 31^st March 2009 mainly due to the decrease in net profit.

The Board of Directors of the Bank has declared a dividend of @30% for the year ended 31^st March 2010. The total outgo in the form of the dividend (inclusive of dividend Tax) during the year 2009-10 would amount to Rs. 183 Crore.

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