NEWS & ADVICE : CAR LOANS
Q1 results for Central Bank of India show 26% rise
By Vaibhav Aggarwal
Jul 30, 2010
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Public sector lender, Central Bank of India has shown a 26.22% rise in its net profits for the first quarter of FY 2010-11. The bottom line (net profit) of the bank for this quarter amounts to Rs 337 crore as compared to Rs 267 crore in quarter prior to that.

While making an announcement of the results of the bank, CMD S Sridhar said that the bank has raised capital worth Rs 250 crore via equity shares to the government and Rs 1000 crore as Tier II capital.

The capital adequacy ratio of the bank stands at 12.80% for Q1 as against 13.55% a year back.

Deposits of the bank amount to Rs 1,54,559 crore in the June quarter as compared to Rs 136,669 crore in the previous quarter, thus resulting in a growth of 13.09% on a YoY basis.

The net NPAs of the bank stood at Rs 815 crore from Rs 603 crore. The bank has achieved an NPA provision coverage of 68.75%.


 


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