Syndicate Bank surpasses Rs 5 lakh crore business mark

The bank crossed Rs 5 lakh crore total business mark at the end of December 31, 2019.

State-owned Syndicate Bank on Monday said it has crossed Rs 5 lakh crore business target three months ahead of its schedule.

The bank crossed Rs 5 lakh crore total business mark at the end of December 31, 2019.

The bank achieved this milestone on the back of every business unit contributing in its full capacity which included retail, MSME and priority sector, the lender said in a statement.

With this achievement, the bank has proved itself as one of the most trusted and technology savvy public sector bank with a well segmented and granular growth across corporate, MSME and retail businesses that have resulted in astounding business figures, it said.

As per the mega merger plan announced by the government in August 2019, Syndicate Bank has been selected for merger with Canara Bank and the amalgamation is expected to be complete by March 31.