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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:

PROFIT

• Operating Profit of the Bank was up by 51.17% at Rs. 777 crore for the quarter ended September 30, 2010 from Rs. 514 crore as on September 30, 2009 on QoQ basis.

• Operating Profit of the Bank was up by 65.14% at Rs. 1,445 crore for the half yearly period ended September 30, 2010 from Rs. 875 crore half yearly as on September 30, 2009 on YoY basis.

• The Net Profit of the Bank for the quarter ended September 30, 2010 stood at Rs. 379 crore vis-à-vis Rs. 314 crore for the quarter ended September 30, 2009 posted a growth of 20.70% on a QoQ basis.

• The Net Profit of the Bank for the half yearly period ended September 30, 2010 stood at Rs. 716 crore vis-à-vis Rs. 581 crore for the half yearly period ended September 30, 2009 posted a growth of 23.24% on YoY basis.

• Non Interest Income of the Bank was Rs. 246 crore for the quarter ended September 30, 2010 from Rs. 408.60 crore for the quarter ended September 30, 2009 registering decline by 39.71% on QoQ basis.

• Non Interest Income of the Bank was Rs. 493 crore for the half yearly period ended September 30, 2010 vis-a-vis Rs. 802.18 crore for the half yearly period ended September 30, 2009 registering a decline by 38.52% on YoY basis.

KEY FINANCIAL RATIOS

• Cost to Income ratio improved to 51.15% for the quarter ended September 30, 2010 from 47.71 % for the quarter ended September 30, 2009 on QoQ basis.

• Cost to Income ratio improved to 51.13% for the half yearly period ended September 30, 2010 from 55.22 % for the half yearly period ended September 30, 2009 on YoY basis.

• Return on Assets (RoA) has increased to 0.86% as on September 30, 2010 from 0.8% as on September 30, 2009.

• Cost of Deposits has reduced to 5.48% for the quarter ended September 30, 2010 as compared to 6.54% for the quarter ended September 30, 2009 on QoQ basis.

• Cost of Deposits has reduced to 5.50% for the half yearly period ended September 30, 2010 as compared to 6.52% for the half yearly period ended September 30, 2009 on YoY basis.

• Yield on Advances decreased to 10.20 % for the quarter ended September 30, 2010 when compared to 9.92% for the quarter ended September 30, 2009 on QoQ basis.

• Yield on Investment decreased to 6.95% for the quarter ended September 30, 2010 when compared to 6.78% for the quarter ended September 30, 2009 on QoQ basis.



SEGMENTWISE ADVANCES

• Under Priority Sector Advances of the Bank, the Agriculture Advances stood at Rs. 17,492 crore at the end of September 30, 2010 increased from Rs. 14,532 crore at the end of September 30, 2009 registering growth of 20.36% on YoY basis.

• Under SME sector the Advances were at Rs. 11,361 crore as on September 30, 2010 as against Rs. 12029 crore for the corresponding period of previous year registering a decrease of 5.55% on YoY basis.

• Retail Loans grew from Rs. 9825 crore as on September 30, 2009 to Rs. 12,206 crore as on September 30, 2010 with a growth of 24.23% on YoY basis.

• Corporate Credit portfolio of the Bank registered YoY growth of 26.31% with the outstanding at Rs. 73,003 crore as on September 30, 2010 vis-a-vis Rs. 57,793 crore as on September 30, 2009.

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