Business Daily from THE HINDU group of publications
Tuesday, Jul 11, 2006
Business Daily from THE HINDU group of publications Tuesday, Jul 11, 2006 |
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Money & Banking
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Financial Performance Corporate Results - Private Banks Centurion Bank Q1 net zooms 160 pc Our Bureau
Mumbai , July 10 Centurion Bank of Punjab has posted 160 per cent growth in net profit for the quarter ended June at Rs 28.7 crore (Rs 11.1 crore). However, the year-ago quarter's results are for Centurion Bank alone before the merger with Bank of Punjab. Total income rose to Rs 348.44 crore (Rs 122.24 crore). Total expenditure was Rs 288.83 crore (Rs 103.62 crore). Other income rose to Rs 95 crore. Deposits grew by 191 per cent to Rs 10,372.1 crore. The bank's growth rate for both assets and deposits was much higher than the industry on a whole, a release said. Total advances grew to Rs 7,452.4 crore from Rs 2,466 crore. Retail advances accounted for 70 per cent of total advances. The capital adequacy ratio fell to 12.6 per cent from 20.7 per cent in the previous quarter. Net non-performing assets were also low at 1.16 per cent (2.41 per cent). Net interest income grew by 122 per cent to Rs 123.2 crore (Rs 55.4 crore). The bank did not securitise any assets during the quarter under review. The bank's scrip closed at Rs 21 on the BSE on Monday, compared to the previous close of Rs 20.50.
Related Stories: More Stories on : Financial Performance | Private Banks
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