Central Bank of India has reported a net profit of Rs. 1,058 crore for the year ended March 31, 2010, against Rs. 571 crore in 2008-09. The bank recommended a final dividend of Re. 1 per share, making with the interim a total of Rs. 2 per share, same as previously.
According to a release, gross income has risen by 20 per cent to Rs. 13,799 crore from Rs. 11,525 crore and net interest income by 14.2 per cent to Rs. 2,545 crore from Rs. 2,228 crore. Operating profit was higher by 43.2 per cent at Rs. 2,058 crore against Rs. 1,437 crore.
Total business has increased to Rs. 2,69,225 crore from Rs. 2,18,012 crore, a growth of 23.5 per cent. Total deposits as on March 31, 2010, stood at Rs. 1,62,107 crore against Rs. 1,31,272 crore and advances at Rs. 1,07,118 crore against Rs. 86,740 core, a growth of 23.5 per cent. Business per employee has increased to Rs. 7.76 crore as on March 31, 2010 from Rs. 11 crore as on March 31, 2009. Investments have increased to Rs. 52,008 crore from Rs. 44,446 crore, a growth of 17 per cent.
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Gross NPA ratio declined to 2.29 per cent from 2.67 crore. Net NPA provision coverage increased to 70.39 per cent as on March 31, 2010 from 54.32 per cent at the end of March 31, 2009.
Capital adequacy stands at 10.82 per cent (Basel-I) as on March 31, 2010 as compared to 11.75 per cent as on March 31, 2009.