Saturday, Nov 13, 2004
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By Our Corporate Reporter
CHENNAI, NOV. 12. Central Bank of India has reported 21.1 per cent rise in its net profit to Rs. 331 crores in the first six months of the current financial year from Rs. 273 crores in the year-ago period. The operating profit was higher by 13.3 per cent to Rs. 856 crores. Aggregate deposits recorded a growth of 10.7 per cent at Rs. 57,063 crores while total advances rose by 15.3 per cent to reach the level of Rs. 26,300 crores. Investments were higher by 8.8 per cent to Rs. 31,634 crores. Total business has reached Rs. 83,363 crores. The capital adequacy ratio as on September 30, 2004 has improved to 13.2 per cent. The net NPAs (non-performing assets) had come down substantially to 4.41 per cent from 6.72 per cent as on September 30, 2003, according to Dalbir Singh, Chairman and Managing Director of the bank. The bank has drawn up technology upgradation plans which includes core banking solutions with multiple delivery channels to cover 1,000 branches.
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