Personal loan lender Central Bank of India reports 26% increase in Q1 results
by 5, August, 2010 0 |
Leading personal loan lender, Central Bank of India has reported a 26.22% increase in its net profits for Q1 of FY 2010-11. The bottom line (net profit) of the bank in this quarter is Rs 337 crore as against Rs 267 crore in previous quarter.
While announcing the bank’s results, CMD S Sridhar said that the bank has generated capital amounting to Rs 250 crore by selling equity shares to the government and Rs 1000 crore in the form of Tier II capital.
The capital adequacy ratio of the bank is 12.80% for Q1 as compared to 13.55% previous year.
Deposits of the Central bank amounted to Rs 1,54,559 crore for the June quarter as against Rs 136,669 crore in the earlier quarter, thus giving an increase of 13.09% on a y-o-y basis.
The net NPAs of the bank were Rs 815 crore from Rs 603 crore. The Central bank has obtained an NPA provision coverage of 68.75%.
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