Central Bank of India registers net profit of Rs 244 crores for the quarter ended September 30, 2011
Mumbai, November 01, 2011:
Shri M.V. Tanksale, Chairman & Managing Director, Central Bank of India announced the financial results for the quarter ended 30th September 2011.
Performance Highlights of the working results as on September 2011 are as under:
BUSINESS EXPANSION
• Aggregate Deposits of the Bank increased to Rs 1,88,286 crore as on September 30, 2011 in comparison to Rs 1,67,813 crore as on September 30, 2010 registering a growth of 12.20 % on YoY basis.
• The CASA Deposits grew from Rs 57,790 crore as on September 30, 2010 to Rs 61788crore as on September 30, 2011 with a growth of 6.92% on YoY basis. The CASA deposits is 32.82% of Total Deposits as on September 30, 2011.
• The Gross Advances have increased to Rs 1,30,468 crore as on September 30, 2011 from Rs 1,15,748 crore as on September 30, 2010 at a growth rate of 12.72 % on YoY basis.
• Business per branch has increased to Rs 83.06 crore as on September 30, 2011 compared to Rs 78.14 crore as on September 30, 2010, registering a growth of 6.29 %.
• Business per employee has increased to Rs 8.62 crore as on September 30, 2011 from Rs 8.03 crore as on September 30, 2010, registering a growth of 7.35 % on Y-o-Y basis.
• The investments have increased to Rs 63,236 crore as on September 30, 2011 from Rs 51,150 crore as on September 30, 2010 i.e. by 23.63 % on Y-o-Y basis.
CAPITAL ADEQUACY
• Capital Adequacy of the Bank stands at 12.24% (Basel I) as on September 30, 2011.
• As per Basel II the CRAR stands at 12.76% as on September 30, 2011.
ASSET QUALITY
• The percentage of Net NPA as on September 30, 2011 is 1.37 % of Total Advances.
• NPA Coverage – cum- Provision is 56.78 % as on September 30, 2011.
• We have moved to system-driven NPA for all accounts above Rs. 10 lacs.
• Net NPA stood at Rs 1755 crore as on September 30, 2011 from Rs 776 crore as on September 30, 2010 increased by 126.16 % on Y-o-Y basis.
• Recovery / Upgradation
This half year cash recovery has been Rs. 224 crores as against Rs. 259 crores as of last year as most of our efforts were directed towards data cleansing exercise and we could not complete the sale of NPAs to ARCs before 30th Sept. 2011.
Now, we are committed to raise cash recovery upto Rs. 900 crore and upgradation of Rs. 450 crores (Rs. 88 crore so far). Higher upgradation is targeted due to recovery of critical amount in newly slipped accounts (Rs. 1842 crore).
Our recently launched OTS scheme for agricultural advance and streamlining of other OTS Schemes will drive the cash recovery this year.
Special teams have been formed for SARFAESI drive in all Regions
Locational programme for recovery in each region is being held for improving recovery.
Nodal Officers are being posted to DRTs for getting maximum recovery and compromises in suit filed cases.
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(This is a press release from Central Bank of India)
