CENTRAL BANK OF INDIA NET UP 74.4% (YoY) PROVISION COVERAGE RATIO 73.3%
PROFIT
• Operating Profit of the Bank was up by 49.1% at Rs.1464.49 crore as on December 31, 2009 from Rs. 982.20 crore as on December 31, 2008 on YoY basis.
• The Net Profit of the Bank for the period ended December 31, 2009 stood at Rs. 887.17 crore as compared to Rs.508.73 crore as on December 31, 2008 posted a growth of 74.4% on a YoY basis.
• Net Interest Income of the Bank increased to Rs. 1881.65 crore for the period ended December 31, 2009 from Rs. 1795.04 crore for the period ended December 31, 2008 registering a growth of 4.8% on YoY basis.
• Non Interest Income of the Bank increased to Rs. 1166.3 crore for the period ended December 31, 2009 from Rs. 566.92 crore for the period ended December 31, 2008 registering a growth of 105.7% on YoY basis.
KEY FINANCIAL RATIOS
• Cost to income ratio improved to 46.12% for the quarter ended December 31, 2009 from 52.55% for the quarter ended December 31, 2008 on QoQ basis.
• Cost to income ratio improved to 51.95% for the period ended December 31, 2009 from 58.42% for the period ended December 31, 2008 on YoY basis.
• Return on Assets has increased to 0.76% as on December 31, 2009 from 0.54% as on December 31, 2008.
• Cost of deposits has reduced to 6.10% for the quarter ended December 31, 2009 as compared to 6.89% for the quarter ended December 31, 2008 on QoQ basis.
• Yield on advances decreased to 9.82% for the quarter ended December 31, 2009 when compared to 10.46% for the quarter ended December 31, 2008 on QoQ basis.
SEGMENTWISE ADVANCES
• Under Priority Sector Advances of the Bank, the agriculture advances stood at Rs. 13846 crore at the end of December 31, 2009 increased from Rs. 12335 crore at the end of December 31, 2008 registering growth of 12.3% on YoY basis.
• Under SME sector the advances were at Rs. 10191 crore as on December 31, 2009 as against Rs. 6009 crore for the corresponding period of previous year registering a growth of 69.6% on YoY basis.
• Retail Loans grew from Rs. 8821 crore as on December 31, 2008 to Rs.10283 crore as on December 31, 2009 with a growth of 16.6 % on YoY basis.
• Corporate Credit portfolio of the Bank registered YoY growth of 48.3% with the outstanding at Rs. 60705 crore as on December 31, 2009 vis-à-vis Rs.40921 crore as on December 31, 2008..
TECHNOLOGY INITIATIVES
• CBS implemented in 1223 branches. 100% CBS during 2010-11.
• 400 ATMs (on –site and off- site ). 500 more to be added by May 2010 and to be increased to around 2000 by the end of the year 2010-11.
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(This is a press release from Central Bank of India)
