Syndicate Bank
Syndicate Bank appeared in the year 1925 in Udupi with the total investment of 8000 by three visionary's businessperson of that time. The prime objective of creating such financial organization is to extend financial support to the local individual who faced monetary crisis in the handloom industry via accumulating small savings from the community. The bank used to collect two annas on daily basis from the depositors through their agents. Even today, the Syndicate Bank follows the same culture and collects around two crore per day.
The growth of Syndicate Bank is similar to the progress of other banks in the country. In the spans of eight decades bank has created a solid customer database of second and third generations. Good understanding of rural India and grass root realities, the bank's insight has visualized the future India. The bank is accepting all the innovation happening in banking culture without disturbing the root of its ethical values and cultural ethos. Syndicate Bank is operating as a medium for development across the country at rural, semi rural centers at the area and individual level.
The bank is ready to take up challenges of 21st century in knowledge, information technology and competition. Complete IT plan is placed in most of the branches and knowledge of bankers is being enriched via variety of training programmes to promote customer satisfaction in every area of its activity. Latest, bank has introduced a motivated technology plan called CBS (Centralized Banking Solution) where in all the 500 branches and the ATMs are being connected with network nationwide. Planning is complete and implementation has started, expectantly in the span of four years it will be ready for customer use. In the year 1964, the name of Syndicate Bank changed to Syndicate Bank Limited. It has expanded its functionality not only domestically but also overseas.
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