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HindustanTimes Fri,26 Dec 2014

Central Bank returns to the black in Q4

HT Correspondent , Hindustan Times  Mumbai, May 10, 2013
First Published: 22:05 IST(10/5/2013) | Last Updated: 22:06 IST(10/5/2013)

Public sector lender Central Bank of India on Friday announced a net profit of Rs. 169 crore for the quarter ended March 31 against a loss of Rs. 105 crore in the corresponding quarter of the previous fiscal helped by higher interest income and lower provisions for bad loans.

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The bank’s net interest income (the difference between interest earned and interest paid) grew 21% to R1,534 crore during the quarter compared to Rs. 1263 crore a year-ago. Other income of the bank grew 47% to R64 crore during the fourth quarter against R43 crore in the same quarter of the previous fiscal.

The bank improved its asset quality as gross non-performing assets (NPAs) or bad loans declined to 4.80% at the end March 2013 from 5.64% at the end December 2012.

As on March 31, 2013, the bank’s total advances rose 16% to R1.72 lakh crore while total deposits grew 15% to Rs. 2.3 lakh crore.


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