Thursday, November 8, 2012

Central Bank Q2 net up 35% at Rs 330 cr on other income


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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