Central Bank of India: Net Profit up by 90.43%

Central Bank of India's Results for  Financial Year ended March 31, 2013

Major Highlights –FY13 Y-o-Y è  Net Profit è  Net NPA è  Gross NPA è  Total Business Rs. 1,015 crore Rs.4,988 crore Rs.8,456 crore      Rs 4,02,272 crore  90.43% 2.90%       4.80% 15.96%    è     Total Deposits     Rs 2,26,038 crore 15.22% è     Aggregate Core            Deposits      Rs 1,70,953 crore               27.84%                              è  Advances       Rs 1,76,234 crore 16.92%

PERFORMANCE HIGHLIGHTS..!

Chennai Press Meet

         Total Income has registered a growth of 14.52 %, from Rs. 20,545 crore to Rs. 23,528 crore on y-o-y basis.

         Total Interest Income registered a growth of 14.16% from Rs.19150 crore to Rs. 21861 crore on y-o-y basis.

         Net Interest Income of the Bank registered a growth of 11.01% from Rs.5169 crore to  Rs.5738 crore on y-o-y basis.

   Non Interest Income of the Bank has increased by  19.50% from Rs.1395 crore to Rs.1667 crore.

   Operating Profit of the Bank stood at Rs.3173 crore as on March 2013 as compared to  Rs. 2815 crore as on March 2012. 

         Bank recorded Net Profit of Rs.1015 crore as on March 31, 2013, as compared to Rs.533 crore as on March 31, 2012, registering y-o-y impressive growth of 90.43%.

   Average Business per Employee increased to Rs.973 lacs in March 2013 from Rs.862 lacs in March 2012 on Y-o-Y Basis.

         Gross NPA to Gross Advances has decreased to 4.80% as on 31^stMarch 2013 from 4.83% of previous year as on 31^st March 2012. Net NPA to Net Advances decreased by 0.02% to 2.90 % as on 31^st March 2013 from 3.10 % of previous year. 

   Recovery in written off a/c at Rs.282 crores showing robust growth of 89.26%.

BUSINESS HIGHLIGHTS

         Total Business of the Bank increased to Rs.4,02,272 crore as on 31^st March 2013 compared to Rs.3,46,898 crore as at March 2012, registering y-o-y growth of 15.96%.

         Total Deposits grew by 15.22 % on Y-o-Y to Rs.2,26,038 crore from Rs. 1,96,173 crore in March 2012

   Total Core deposit of the Bank grew by 27.84% on Y-o-Y Basis to Rs.1,70,953crores as of March, 2013 from Rs.1,33,726crores as of March 2012. 

   CASA Deposits increased to Rs.73,581 crore as of March 2013 compared to Rs.65,275 crore as of March 2012, registering Y-o-Y growth of 12.72%.

 Gross Advances of the Bank grew by Rs.25,509 crore i.e. to Rs.1,76,234 crore in March 2013 from Rs.1,50,725 crore in March 2012, registering a Y-o-Y growth of 16.92%.

         Agriculture Advances increased by 30.84% to Rs.24,660 crore in March 2013 from Rs. 18,848 crore in March 2012.  

         MSE Advances registered y-o-y growth of 31.31% to Rs.17,289 crore in March 2013 from Rs.13,161 crore of previous year.  

         Retail Loans showed substantial growth of 27.74% on y-o-y basis to Rs.21,352 crore from Rs.16,715 crore. 

         Housing Loan portfolio of the Bank stands at Rs.7,699 crore consisting of 36.06% of the total Retail Portfolio.

 Education Loan portfolio of the Bank registered y-o-y growth of 19.01% to Rs.2,567crore in March 2013 from Rs.2157 crore of previous year.  

   The Credit Deposit Ratio has moved from 76.83% to 77.97% on y-o-y basis.

   Credit growth in the bucket size of Rs.5 - 25 crores recorded a significant growth of 43.97% on Y-o-Y basis.

         Provision coverage ratio has improved from 40.62% for 2011-12 to 47.75% for 2012-13.

ACHIEVEMENTS

   During the year Bank has added 847 ATMs to reach 2,529 ATMS concentrating in Tier II and Tier III towns.

         Share of Electronic transaction increased from 13.37% to 30% of total transactions during the year.

    Debit Card base doubled from 21 lacs to 42 lacs  during the year.

   During the year Internet banking customer base increased from 1.81 lacs to 6.02 lacs registering an impressive growth of 233%.

         Direct Benefits Transfer successfully implemented in 6 districts.

   Bank stood 2nd in mobilizing insurance premium amongst all Bancassurance partners of LIC with Y-o-Y growth of 32%. Bank has canvassed 1,49,668 policies with premium of Rs. 238 crores.

         Under general insurance business, Bank has mobilized 1,89,956 policies with premium collection of Rs.83crore with Y-o-Y growth of 38%.

    Bank has launched new cards viz. World Credit Card, IDA Co – Branded Credit Card and Big Cinema Credit Card.

AWARDS  RECOGNITION

v Bank has been awarded with two prestigious Skoch Gold Awards by Skoch Foundation during 2012-13

          i.   Innovative Urban Financial Inclusion

          ii.  Reaching Last Mile

v “Certificate of Excellence” in establishing of “RSETI” (Rural Self Employment Training Institute” across the country during 2011-12

v “Outstanding Leadership Award” at the Institute of Public Enterprise Banking Financial Services & Insurance, Hyderabad.

v “Golden Peacock HR Excellence  Award-2012” for best HR practices.

v “Best HR Strategies & Innovation in Employee Retention Strategies” conferred by Greentech Foundation.

v “Outlook Money Award 2012” for Runner up in Best Housing & Education Loan Provider.

v Bank has been awarded 4th Best PSU Bank in India under “Brand Equity- Top 100 Most Trusted Brand.

v ZEE Brand Excellence Award in BFSI.

v Ranking of our Bank has improved by 61 notches, moving up from 390 in 2011 to 329 in 2012 in the List of “Top 500 Banking Brands 2012’ .

v Our Big Cinema credit card won best entry award in co–branded cards category at   the recent Master Card Innovation awards at Kovallam, Kerala.                   

Photo Narration:

Mr. . B. Akbaraly, Zonal Manager Central Bank of India addressing the Press to announce the financial results for the year ended March 2013 at Chennai.  On his right Mr. A john Britto and  his left Shri D G Kallatti Asst Gen Managers were present at the Press Meet.

For Media Contact:

Mr. R. S. N. MURALIDHARAN

PUBLIC RELATIONS OFFICER

CENTRAL BANK OF INDIA

ZONAL OFFICE, 48, MONTIETH ROAD

EGMORE, CHENNAI - 600 008

Email: rsnmurali65@gmail.com

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