Industry: Banking
Syndicate Bank was founded in 1925 and is headquartered in Manipal, India. It provides various banking products and services in India. The company primarily offers a range of deposit and loan products and services. Its deposit product line includes savings bank accounts, current accounts, and term deposit products. The company’s loan portfolio comprises salary loans, consumer durable loans, vehicle loans, housing loans, mortgage loans, education loans, trader loans, personal loans, agricultural loans, other priority sector loans, and SME loan products, as well as loans targeted at NRIs, women, and senior citizens.
In addition, the bank offers various services, such as real time gross settlement system for transfer of funds; electronic funds transfer system; depository participant services; and Syndicate gift checks. Further, the company provides various cash and treasury management; debit and credit cards; and Internet banking, telebanking, and SMS banking services. Syndicate Bank, through a strategic agreement with Bajaj Allianz Life, distributes various life insurance products. As of March 31, 2009, it operated 2,228 branches comprising 660 rural branches, 519 semi urban branches, 516 urban branches, and 532 metro and port town branches, as well as a branch in London, the United Kingdom; and 1,090 ATMs in 574 centers. The company was formerly known as Canara Industrial and Banking Syndicate, Ltd. and changed its name to Syndicate Bank in 1963.
