Central Bank of India records a growth of 20.70% in net profit for the quarter ended September 30, 2010 on YOY basis
Mumbai, October 26, 2010:
Shri S. Sridhar, Chairman & Managing Director of Central Bank of India announced the financial results for the half year ended 30th September 2010. Smt. V.R. Iyer and Shri R.K.Dubey, Executive Directors of the Bank were also present
Performance Highlights of the working results as on September 2010 are as under:
BUSINESS EXPANSION
• Aggregate Deposits of the Bank increased to Rs. 1,67,813 crore as on September 30, 2010 in comparison to Rs. 1,51,506 crore as on September 30, 2009 registering a growth of 10.76 % on YoY basis.
• The CASA Deposits grew from Rs. 46,750 crore as on September 30, 2009 to Rs. 57,790 crore as on September 30, 2010 with a growth of 23.61% on YoY basis. The CASA deposits is 34.43% of Total Deposits as on September 30, 2010.
• The Gross Advances have increased to Rs. 1,15,748 crore as on September 30, 2010 from Rs. 92,212 crore as on September 30, 2009 at a growth rate of 25.52% on YoY basis.
• Business per branch has increased to Rs. 78.14 crore as on September 30, 2010 compared to Rs. 62.30 crore as on September 30, 2009, registering a growth of 25.43%.
• Business per employee has increased to Rs. 8.03 crore as on September 30, 2010 from Rs. 6.72 crore as on September 30, 2009, registering a growth of 19.49%.
• The investments has decreased to Rs. 51,150 crore as on September 30, 2010 from Rs. 57,178 crore as on September 30, 2009 by 10.54 % on YoY basis.
CAPITAL ADEQUACY
• Capital Adequacy of the Bank stands at 10.89% (Basel I) as on September 30, 2010.
• As per Basel II the CRAR stands at 11.65% as on September 30, 2010.
ASSET QUALITY
• Net NPA stood at Rs. 776 crore as on September 30, 2010 from Rs. 625 crore as on September 30, 2009 increased by 24.16% on YoY basis.
• The percentage of Net NPA as on September 30, 2010 is 0.68% of Total Advances.
• NPA Coverage – cum- Provision is 70.50% as on September 30, 2010
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(This is a press release from Central Bank of India)
