In his inauguraton speech, Mr Anwar pointed out that the bank had contributed a lot to the local community.

Said bank chairman DT Pai on the occasion: "Syndicate Bank has posted a net profit of Rs 135 crore in the first-half of the current fiscal."

"The bank is celebrating its platinum jubilee and has been able to improve its overall efficiency during the year. This is evident from the fact that the bank is above the benchmark level for most of the performance parameters with a capital adequacy ratio of 11.56 per cent, coverage ratio of 1.60 with a net-NPA 4.41 per cent and return on assets at 1.06 per cent," said Mr Pai.

"Its net profit is one of the highest among public-sector banks," he said.