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Syndicate Bank to shift head office to Bengaluru?

Published On : 26 Dec 2018

Udupi: Managing director and chief executive officer of Syndicate Bank, Mrutyunjay Mahapatra spoke regarding the rumours doing the round that Syndicate Bank will shift it's head office from Manipal to Bengaluru. "Although there is a notion that the bank's head office should be in the place where it was founded, in order to adjust itself to global market and information technology, it has become necessary to shift it to Bengaluru. However a symbolic office will continue to function here."

He hailed the bank as a true all India bank, having spread its wings all over the country. He also termed it as a bank of youngsters, pointing out that 67 percent of the bank staff are aged less than 36. He also said that the bank plans to collect share capital of around Rs 500 crore through allotment of preferential equity shares to the bank staff at a discount of Rs 20 to 25 as compared to market price.

Manipal regional manager, Bhaskar Hande, welcomed and provided statistics about the bank. Shankar presented the programme. General managers, Satish Kamath, Kumarayya and V M Giridhar were present.

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