Syndicate Bank was established in 1925 in Udupi, the abode of Lord Krishna in coastal Karnataka with a capital of Rs.8000/- by three visionaries - Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician - who shared a strong commitment to social welfare. Their objective was primarily to extend financial assistance to the local weavers who were crippled by a crisis in the handloom industry through mobilising small savings from the community. The bank collected as low as 2 annas daily at the doorsteps of the depositors through its Agents under its Pigmy Deposit Scheme started in 1928. This scheme is the Bank's brand equity today and the Bank collects around Rs. 2 crore per day under the scheme.

The progress of Syndicate Bank has been synonymous with the phase of progressive banking in India. Spanning over 80 years of pioneering expertise, the Bank has created for itself a solid customer base comprising customers of two or three generations. Being firmly rooted in rural India and understanding the grassroot realities, the Bank's perception had vision of future India. It has been propagating innovations in Banking and also has been receptive to new ideas, without however getting uprooted from its distinctive socio-economic and cultural ethos. Its philosophy of growth by mutual sustenance of both the Bank and the people has paid rich dividends. The Bank has been operating as a catalyst of development across the country with particular reference to the common man at the individual level and in rural/semi urban centres at the area level.

The Bank is well equipped to meet the challenges of the 21st century in the areas of information technology, knowledge and competition. A comprehensive IT plan is being put in place and the skills and knowledge of the Bank's personnel are being upgraded through a variety of training programmes to promote customer delight in every sphere of its activity. The Bank has launched an ambitious technology plan called Centralised Banking Solution (CBS) whereby 500 of our strategic branches with their ATMs are being networked nationwide over a 4 year period.

Syndicate Bank Mission
Resources:To achieve global deposits of Rs. 76 thousand crore by March 2007 with emphasis on low cost resources by planned strategic initiatives including branch expansion, aggressive marketing and active involvement of each and every employee of the Bank.

Advances
To build a qualitative asset base of around Rs. 51 thousand crore by March 2007 to augment the income portfolio of the Bank.

Business
To achieve global business of Rs. 127 thousand crore by March 2007 and attain Rs. 240 thousand crore by 2010.

Profitability
To make every branch a profit centre to earn a net profit of minimum Rs. One thousand crore by March 2007 and ensure best possible returns to the stakeholder's value.

Management of Assets
To focus on improving the quality of asset portfolio by avoiding slippage of assets to NPA and to strive to upgrade the existing non-performing assets to performing assets, bringing down gross NPA level below 2% and Net NPA below 1%.

Human Resources & Organization structure
To mould and strengthen the organizational structure to meet the future Business requirements and challenges. To redefine and redevelop peoples' management techniques so as to unleash human potential, drive growth and nurture leadership of high quality corporate governance.

Customer Relationship Management
To fine-tune our marketing strategies to meet the ever-growing market demands, to ensure that our products and services adapt to the changing needs and expectations of the customer, to provide the customer the ideal banking ambience, to reorient our publicity so as to provide increasing visibility to our Brand, to get our branches / offices ISO 9000 compliant.

Risk Management
To continuously upgrade the Risk Management systems & processes, imbibe risk management in business activities and implement Basel II requirements for the benefit of all stakeholders.

Information Technology
To bring minimum of 80% of the Bank's business under Centralized Core Banking network by March 2007 spanning minimum of 1500 branches across the country, supplemented by additional delivery channels with 800 ATMs, backed by a comprehensive fail safe Business Continuity Plan.

Forex and Treasury
To profitably manage the forex and investment assets of the Bank to achieve a dealing room turnover of Rs.535 thousand crore by March 2007 and a net profit exceeding Rs.105 crore.

Para Banking
To achieve insurance premium collection of nearly Rs.180 crore with a commission income of Rs.20 crore, a credit card base of 1 lakh that brings in net earnings of a minimum of Rs.3.50 crore and a debit card base of 15 lakh fetching a net revenue of Rs.25 crore.