BANGALORE: The total business of the Central Bank of India has crossed Rs. 1,05,678 crore as on March 31, 2006. The bank earned a net profit of Rs. 257 crore. This was announced here on Thursday by the Chairman and Managing Director of the bank, H. A. Daruwalla. Releasing the working results of the bank, she said that the operating profit for 2005-06 was Rs.1,195 crore. There was a 17.63 per cent increase in the total business at Rs. 1,05,678 crore against Rs. 89,837 crore. Total deposits have increased from Rs. 60,752 crore to Rs. 66,483 crore. Advances have risen to Rs. 39,195 crore from Rs. 29,085 crore, a growth of 34.8 per cent. The credit-deposit ratio stood at 60.90 per cent as of March 31, 2006 against 49.50 per cent in the previous year.

The non-performing assets' rate fell from 2.98 per cent to 2.59 per cent. Priority sector lending went up to Rs. 17,236 crore from Rs. 12,911 crore in the previous year.

Ms. Daruwalla said that the Central Bank had formulated strategies to improve overall growth with special thrust to agriculture, retail and ancillary business, small and medium enterprises, education, housing and loans to women entrepreneurs. The bank proposed to increase the number of ATMs from 180 to 500 during the current year.

According to a release, the bank made upward revision of interest rates by 50 basis points on domestic term deposits for maturity period of one year and above with effect from May 10. Accordingly, the bank has revised the one year to less than three year interest rate to 6.75 per cent from 6.25 per cent, three years to less than five years to 7 per cent from 6.50 per cent and for five years and above period to 7.25 per cent from 6.75 per cent.

An additional interest rate of half a percentage point annually over and above the normal rate of interest for any of the time deposit schemes will be given as incentive.

Printer friendly page  
Send this article to Friends by E-Mail