Aided by other income and robust loan growth, state owned
Central Bank of India 's second quarter
(July-September) net profit shot up 35% year-on-year to Rs 330 crore in
2012-13. Net interest income or the difference between interests earned and
paid out, was up 9% y-o-y at Rs 1,516 crore.
Other income rose nearly 18% to Rs 382 crore adding to the
profit margin. The bank expanded its loan book by 17% y-o-y to Rs 1.50 lakh
crore surpassing RBI's projected industry credit growth of 16% in FY13.
However, the growth came at the cost of some erosion in its
credit quality. Its gross non-perfoming asset ratio rose 5.54% versus 4.87% in
the previous quarter and 2.94% in the corresponding quarter of the previous
year. Net NPA ratio rose to 3.80% from
3.22% in April-June quarter.
Its capital adequacy ratio stood at 11.61% as against
11.58%, a quarter back. Deposits grew 8% y-o-y to Rs 2.03 lakh crore.
Central Bank shares rose more than 4% to close at Rs 73 at
the end of Tuesday's trade on NSE.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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