State-owned Syndicate Bank today reported a 33.8% rise in net profit at Rs 237 crore for the second quarter ended September 30, 2010. It had a net profit of Rs 177.8 crore in the same quarter of the last fiscal, Syndicate Bank said.

The lender also reported an increase of 5.3% in total income for the quarter at Rs 2,972.5 crore, against Rs 2,820.6 crore in the year-ago period. During the first half ended September 30, the bank clocked a 14.3% rise in net profit to Rs 502.4 crore, compared to Rs 439.3 crore in the same period a year ago.

IOB net rises 17% to Rs 206.14 cr

Indian Overseas Bank (IOB) reported a jump of 17.09% in its net profit for the second quarter ended September 30, 2010 at Rs 206.14 crore. The bank had posted a net profit of Rs 176.04 crore in July-September quarter last year, IOB said. Total income of the bank grew to Rs 3,074.73 crore in the September quarter from Rs 2,922.33 crore in the year-ago period.

UCO net dips on high provisioning

UCO Bank?s net profit declined 42% in the second quarter of FY11 at Rs 119 crore, as compared to the same period last fiscal. UCO Bank chairman and managing director Arun Kaul said the decline in net profit was due to higher provisioning to the tune of Rs 586 crore during the July-September quarter. In the first quarter, the bank had made a provisioning of Rs 384 crore.

Kaul said operating profit of the bank during the quarter stood at Rs 705 crore reflecting a growth of 91.58% year-on-year. Net interest margin (NIM) of the bank during the quarter stood at 3.51%.Kaul said that bank was targeting growth rate of 20% during the current fiscal and was not considering follow-on public offer at the moment. The bank?s capital adequacy ratio stood at 13.6% at the end of September 2010.

SFL net profit rises 26.6%

Sundaram Finance Ltd (SFL) has posted a 26.26% rise in its net profit to Rs 67.53 crore for the second quarter from Rs 53.48 crore in the corresponding quarter last year. Disbursements went up by 46% to Rs 3,652 crore compared with Rs 2,492 crore in the same quarter last year.

Repco Bank net profit up 74%

Repco Bank has posted a 74% growth in net profit to Rs 28 crore for the second quarter as against Rs16 crore in the same quarter previous fiscal. Deposits grew 21% at Rs 2,564 crore and advances grew 38% at Rs 1,890 crore.