Syndicate Bank

Syndicate Bank was established in 1925 in Udupi, the abode of Lord Krishna in coastal Karnataka with a capital of Rs.8000/- by three visionaries – Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician – who shared a strong commitment to social welfare. Their objective was primarily to extend financial assistance to the local weavers who were crippled by a crisis in the handloom industry through mobilising small savings from the community. The bank collected as low as 2 annas daily at the doorsteps of the depositors through its Agents under its Pigmy Deposit Scheme started in 1928. This scheme is the Bank’s brand equity today and the Bank collects around Rs. 2 crore per day under the scheme.The progress of Syndicate Bank has been synonymous with the phase of progressive banking in India. Spanning over 80 years of pioneering expertise, the Bank has created for itself a solid customer base comprising customers of two or three generations. Being firmly rooted in rural India and understanding the grassroot realities, the Bank’s perception had vision of future India. It has been propagating innovations in Banking and also has been receptive to new ideas, without however getting uprooted from its distinctive socio-economic and cultural ethos. Its philosophy of growth by mutual sustenance of both the Bank and the people has paid rich dividends. The Bank has been operating as a catalyst of development across the country with particular reference to the common man at the individual level and in rural/semi urban centres at the area level.

Bank Name Syndicate Bank
Stock Exchange NSE
Sector Financial Services
Industry Banks – Regional – Asia
Country India
World Region Asia
CEO Mr. Melwyn Oswald Rego
Employees 26606
Registered Year 1925


Currency in INR        
  2018 2017 2016 2015
  ₹ cr ₹ cr ₹ cr ₹ cr
Total interest income 21.78 23.00 23.20 21.62
Total Interest Expenses 15.22 16.73 17.21 16.09
Net Interest income 6.55 6.28 5.99 5.52
Total Net Revenue 9.47 9.73 8.50 7.63
Earnings per share        
Basic 0.00 0.00 0.00 0.00
Diluted 0.00 0.00 0.00 0.00
Total current assets 26.24 29.29 32.99 27.5
Other assets 214.9 201.86 203.95 204.69
Total assets 325.59 300.59 309.33 304.37
Total current liabilities 290.82 262.83 263.93 257.45
Total liabilities 309.02 284.88 294.88 290.07
Total Equity 16.57 15.71 14.45 14.31
Net income        
Net cash provided by operating activities 4.98 3.94 2.50
Net cash used for investment activities 0.18 0.30 0.35
Net cash provided by financing activities 1.18 1.75 0.70
Currency in Rupees, All Numbers in Crores.