The Hindu : Business : Central Bank H1 profit doubles

Online edition of India's National Newspaper
Saturday, Nov 04, 2006
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Central Bank H1 profit doubles

Corporate Reporter

CHENNAI: Central Bank of India has reported a total business of Rs. 119,466 crore as on September 30, 2006, against Rs. 96,459 crore, a rise of 23.9 per cent on year-on-year basis. Total deposits stood at Rs. 76,221 crore, recording a growth of 16.4 per cent, while advances registered a rise of 39.7 per cent at Rs. 43,245 crore as on September 30, 2006.

In the half year ended September 30, 2006, the bank has achieved a total income of Rs. 3,114 crore against Rs. 2,864 crore in the year-ago period. The net profit has nearly doubled to Rs. 215 crore from Rs. 108 crore.

The credit-deposit ratio stood at 58.4 per cent against 48.78 per cent.

The bank has computerised 1,713 branches out of 3,133 branches. It has implemented core banking solution (CBS) in 156 branches and two extension counters.

The bank has stepped up its focus on quality credit through a number of initiatives, which included the setting up of a special credit-monitoring department with the asset portfolio being monitored and assessed periodically to ensure the health of the portfolio.

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