Moodys Investors Service - Syndicate Bank Ltd. (SYNDIBANK) Syndicate Bank

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Moody's Investors Service

EUR 182.40 For Business Accounts Only

Syndicate Bank

COMPANY PROFILE BANKING MARCH 1, 2017 Table of Contents: COMPANY OVERVIEW 1 FINANCIAL HIGHLIGHTS (AS REPORTED) 2 BUSINESS ACTIVITIES 3 DISTRIBUTION CAPACITY AND MARKET SHARE 5 OWNERSHIP AND STRUCTURE 6 Ownership Structure 6 Subsidiaries 7 COMPANY MANAGEMENT

01/03/2017 10 EN

Underlying

Syndicate Bank Ltd.

Syndicate Bank. Syndicate Bank is an India-based bank, which provides a range of banking services. The Bank's segments include Treasury, Corporate/Wholesale Banking, Banking and Other Banking Operations. The Bank offers deposits, including current and term deposits; loans, including retail loans, agricultural loans and priority sector loan, small and medium enterprises (SME) loan and corporate finance. Its operative deposit products include Savings Bank Account and SyndSamanya Savings Bank Account. The Bank offers services, such as cash management services (CMS), real time gross settlement (RTGS), national electronic funds transfer (NEFT) for electronic fund transfer and speed clearing. Its delivery channels include automated teller machines (ATMs), Internet banking, mobile banking and short message service (SMS) banking. It operates over 3,700 branches. Its domestic branch network consists of over 1,230 rural, approximately 1,030 semi-urban, over 820 urban and approximately 680 metro branches.

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INE667A01018 India

Provider

Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

130 countries
11,000 corporate issuers
21,000 public finance issuers
76,000 structured finance obligations

Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.

Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions.

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An unfavourable environment weighs on SYNDICATE BANK LTD., which sees a downgrade to Negative

The independent financial analyst theScreener just requalified the general evaluation of SYNDICATE BANK LTD. (IN), active in the Money Center Banks industry. As regards its fundamental valuation, the title still shows 0 out of 4 stars and its market behaviour is seen as risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Negative. As of the analysis date February 1, 2019, the closing price was INR 37.30 and its target price was estimated at INR 28.35.

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Indian banks are going through the final phase of their balance-sheet clean up. This completes a five-year process of purging legacy NPLs from the sector, and should see large public-sector banks return to profitability over the next 12 to 18 months. While we are positive on the sector's fundamental momentum, we observe that spreads are relatively tight. We also expect significant issuance over the next two years as 57% of hard-currency Indian bank bonds will mature by 2020.

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Syndicate Bank: Third Quarter Results Update

FINANCIAL INSTITUTIONS CREDIT OPINION 21 March 2017 Update RATINGS Syndicate Bank Domicile India Long Term Debt (P)Baa3 Type Senior Unsecured MTN - Fgn Curr Outlook Not Assigned Long Term Deposit Baa3 Type LT Bank Deposits - Fgn Curr Outlook

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Syndicate Bank

An unfavourable environment weighs on SYNDICATE BANK LTD., which sees a downgrade to Negative

Indian banks/Legacy NPLs will finally be resolved

Syndicate Bank: Third Quarter Results Update

Vector WP Holdco, Inc.: Update to credit analysis following downgrade of CFR to B3

Moody's Ratings downgrades Beasley Mezzanine Holdings, LLC's PDR to D-PD following completion of distressed debt exchange; affirms Caa2 CFR and changes outlook to stable

Moody's Ratings announces completion of a periodic review of ratings of Becton, Dickinson and Company

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