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Central Bank's net up 94 p.c.
MUMBAI:
Central Bank of India will come out with an initial public offering by June. The bank would be diluting around 20 per cent equity through the IPO, Chairperson and Managing Director of the bank, H A Daruwalla, said here on Monday.
The bank's net profit has grown by 93.8 per cent during 2006-07 to Rs. 498 crore from Rs. 257 crore in 2005-06. The total business has registered a rise of Rs. 30,587 crore and crossed Rs. 1,36,265 crore.
Deposits have risen by Rs. 82,776 crore. Gross advances have risen to Rs. 53,489 crore from Rs. 39,195 crore. The operating profit has registered an increase of 5.95 per cent at Rs. 1,265.72 crore against Rs. 1,194.67 crore.
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