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Central Bank of India registers net profit of Rs 244 crores for the quarter ended September 30, 2011


Mumbai, November 01, 2011:

PROFIT

Operating Profit increased from Rs. 792 crores as on 30th June 2011 to Rs. 796 crores as on 30th Sept. 2011 (Q-o-Q).

• Operating Profit of the Bank was up by 9.90 % at Rs 1588 crore for the half yearly period ended September 30, 2011 from Rs 1,445 crore half yearly as on September 30, 2010 on Y-o-Y basis.

• Non Interest Income of the Bank was Rs 324 crore for the quarter ended September 30, 2011 from Rs 246 crore for the quarter ended September 30, 2010 registering increase by 31.71% on Y-o-Y basis.

• Non Interest Income of the Bank was Rs 606 crore for the half yearly period ended September 30, 2011 vis-à-vis Rs 493 crore for the half yearly period ended September 30, 2010 registering a growth by 22.92 % on Y-o-Y basis.

• The Net Profit of the Bank for the quarter ended September 30, 2011 stood at Rs 244 crore vis-à-vis Rs 379 crore for the quarter ended September 30, 2010 recording negative growth of 35.62% on Y-o-Y basis.

• The Net Profit of the Bank for the half yearly period ended September 30, 2011 stood at Rs 525 crore vis-à-vis Rs 716 crore for the half yearly period ended September 30, 2010 registering a decline of 26.68 % on Y-o-Y basis.

KEY FINANCIAL RATIOS

• Cost to Income ratio impacted to 52.34 % for the half yearly period ended September 30, 2011 from 51.13% for the half yearly period ended September 30, 2010 on Y-o-Y basis.

• Cost of Deposits has increased to 7.02 % for the half yearly period ended September 30, 2011 as compared to 5.50% for the half yearly period ended September 30, 2010 on Y-o-Y basis and increased to 7.22% as on Sept. 30, 2011 from 6.80% for June 30, 2011 on Q-o-Q basis.

• Yield on Investments increased to 7.06% for the half year ended September 30, 2011 when compared to 6.99% for the half year ended September 30, 2010 on Y-o-Y basis.

• Return on Assets (RoA) has decreased to 0.51 % as on September 30, 2011 from 0.82% as on September 30, 2010 on Y-o-Y basis and decreased to 0.46% as on September 30, 2011 from 0.56% as on June 30, 2011 on Q-o-Q basis.



SEGMENTWISE ADVANCES

• Under Priority Sector Advances of the Bank, the Agriculture Advances stood at Rs 15,096 crore as on September 30, 2011 that increased from Rs 14,424 crore as on September 30, 2010 registering growth of 4.66% on Y-o-Y basis.

• Under MSE sector the Advances were at Rs 12,216 crore as on September 30, 2011 as against Rs 9678 crore for the corresponding period of previous year registering a increase of 26.22% on Y-o-Y basis.

• Retail Loans grew from Rs. 9735 as on 30th Sept. 2010 (as per revised guidelines) to Rs 14,138 crore as on September 30, 2011 with a growth of 45.23 % on Y-o-Y basis.

• Corporate Credit portfolio of the Bank registered Y-o-Y growth of 13.20% with the outstanding at Rs 88,766 crore as on September 30, 2011 vis-à-vis Rs 78,417 crore as on September 30, 2010.



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(This is a press release from Central Bank of India)