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Central Bank of India records net profit growth of 227% for Q2 FY10 on QoQ basis

Mumbai, October 30, 2009:

Performance Highlights of the working results as on September 2009 are as under,

BUSINESS EXPANSION

• Aggregate deposits of the Bank have increased to Rs. 1,51,506 crore as on September 30, 2009 in comparison to Rs. 1,16,365 crore as on September 30, 2008 registering a growth of 30.20 % on YOY basis.

• The CASA Deposits has grown from Rs. 42, 296 crore as on September 30, 2008 to Rs. 46,750 crore as on September 30, 2009 with a growth of 10.53% on YoY basis. The CASA deposits is 30.90% of total deposits as on September 30, 2009.

• The gross advances have increased to Rs. 92,212 crore as on September 30, 2009 from Rs. 80,827 crore as on September 30, 2008 at a growth rate of 14.09% on YoY basis.

• Business per branch has increased to Rs. 62.30 crore as on September 30, 2009 compared to Rs. 54.75 crore as on September 30, 2008, registering a growth of 13.79%.

• Business per employee has increased to Rs. 6.72 crore as on September 30, 2009 from Rs.5.38crore as on September 30, 2008, registering a growth of 24.91%.

• The investments has increased to Rs. 57,178 crore as on September 30, 2009 from Rs. 34,778 crore as on September 30, 2008 at a growth rate of 64.40 % on YoY basis.

CAPITAL ADEQUACY

• Capital Adequacy of the Bank stands at 11.56% (Basel I) as on September 30, 2009.

• As per Basel II the CRAR stands at 12.23% as on September 30, 2009



ASSET QUALITY

• Net NPA stood at Rs. 640 crore as on September 30, 2009 from Rs 926 crore as on September 30, 2008 improved by 30.88% on YoY basis.

• The percentage of net NPA as on September 30, 2009 is 0.69% of total advances.

• NPA Coverage – cum- Provision is 73.66% as on September 30, 2009

PROFIT

• Operating Profit of the Bank was up by 89.59 % at Rs. 513.80 crore for the quarter ended September 30, 2009 from Rs. 271 crore as on September 30, 2008 on QoQ basis.

• Operating Profit of the Bank was up by 69.90% at Rs. 875 crore for the half yearly period ended September 30, 2009 from Rs. 515 crore half yearly as on September 30, 2008 on YoY basis.

• The Net Profit of the Bank for the quarter ended September 30, 2009 stood at Rs. 313.92 crore as compared to Rs. 96.15 crore for the quarter ended September 30, 2008 posted a growth of 226.49% on a QoQ basis.

• The Net Profit of the Bank for the half yearly period ended September 30, 2009 stood at Rs. 581 crore as compared to Rs. 155 crore for the half yearly period ended September 30, 2008 posted a growth of 275% on YoY basis.

• Non Interest Income of the Bank increased to 408.60 crore for the quarter ended September 30, 2009 from Rs. 94.49 crore for the quarter ended September 30, 2008 registering a growth of 332.43% on QoQ basis.

• Non Interest Income of the Bank increased to 802.18 crore for the half yearly period ended September 30, 2009 from Rs. 255.73 crore for the half yearly period ended September 30, 2008 registering a growth of 213.68% on YoY basis.

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