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India Research<br />
DOLAT CAPITAL<br />
� Branch expansion: <strong>Syndicate</strong> <strong>Bank</strong> added 214 branches in FY12 <strong>com</strong>pared<br />
to 186 in FY11. In FY12, most of the branch addition took place in rural & semiurban<br />
areas towards fulfillment of RBI’s guidelines on financial inclusion. During<br />
the year, 68 branches were opened in under-banked areas and 44 branches<br />
were added in minority concentration districts. In FY12, the bank reached the<br />
financial inclusion target. Like-wise in FY11, out of 188 fresh branches additions,<br />
the bank opened 76 branches in under-banked areas and 36 branches in minority<br />
concentrated districts. In FY13, the bank’s management is planning to add<br />
another 300 branches reach at 3000 mark; <strong>Syndicate</strong> bank would also add<br />
almost 500 ATMs to take the total to 1750.<br />
Chart 1: <strong>Syndicate</strong> <strong>Bank</strong>’s Branch profile<br />
Source : Company, Dolat Research<br />
Branch network FY10 FY11 FY12<br />
Rural 666 803 873<br />
Semi-urban 552 589 672<br />
Urban 541 551 584<br />
Metro & Port Town 548 550 566<br />
Ultra Small - - 14<br />
Overseas 1 1 1<br />
Total 2,308 2,494 2,710<br />
% to Total FY10 FY11 FY12<br />
Rural 28.9 32.2 32.2<br />
Semi-urban 23.9 23.6 24.8<br />
Urban 23.4 22.1 21.5<br />
Metro & Port Town 23.7 22.1 20.9<br />
Ultra Small - - 0.5<br />
� Steady expansion of customer base: The bank’s customer base enlarged to<br />
28.4mn from 26.4mn a year back registering a growth of 7.6%. In FY11, the<br />
bank maintained similar pace of 7.7%. Even in lackluster scenario during FY12,<br />
the bank maintained its customer base expansion pace. The bank’s credit card<br />
base increased by 13% YoY to 80125.<br />
July 13, 2012 <strong>Syndicate</strong> <strong>Bank</strong><br />
2
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