INDIAN NEWS & TIMES

Monday, February 19, 2018

home-banner4Operating Profit of the Bank has shown substantial growth of 48.80% during the quarter ended December 31, 2017 and stood at Rs. 866 crore as compared to 582 crore for the  quarter ended December 31, 2016.

Bank incurred Net Loss of Rs. 1664 crore for the quarter  ended December 31, 2017 as compared to Net Loss of Rs. 606 crore for the quarter ended December 31, 2016 primarily due to higher NPA provisions in NCLT accounts, significant lower trading profit on Investments, MTM Losses/Depreciation on Investments etc.

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Shri. Rajeev Rishi Chairman & Managing Director

Net-Interest Income of the Bank increased to Rs. 1978 crore for the quarter ended December 31, 2017 as against Rs. 1506 crore for the corresponding quarter ended December 31, 2016, registering y-o-y growth of 31.34 %.

Total Income for the quarter ended December 31, 2017 stood at Rs. 6590 crore as against Rs. 6788 crore for the quarter ended December 31, 2016.

Net Interest Margin improved to 3.06 % in the quarter ended December 31, 2017 as compared to 2.27 % in the corresponding quarter of the previous financial year 2016-17.

ASSET QUALITY:

Cash Recovery for the quarter ended December 31, 2017 improved to Rs. 575 crore as against Rs. 487 crore as on September 30, 2017 and Rs. 300 crore as on December 31, 2016.  

Upgradation of assets improved to Rs. 159 crore in the quarter ended December 31, 2017 as compared to Rs. 119 crore in the quarter ended December31, 2016.

Gross NPA to Gross Advances stood at 18.08 % as on December 31, 2017 as against 17.27 % as on September 30, 2017 and 18.23 % as on June 30, 2017.

Net NPA to Net Advances decreased to 9.45 % as on December 31, 2017 as against 9.53 % as on September 30, 2017 and 11.04% as on June 30, 2017.

Provision Coverage Ratio significantly improved to 62.49 % as on December 31, 2017 as against 58.58 % as on September 30, 2017 and 54.95 % as on December 31, 2016.How-to-Transfer-Bank-Account-in-Central-Bank-of-India

BUSINESS HIGHLIGHTS:

Total Business of the Bank stood at Rs. 4,75,148 crore in December 31, 2017 as against Rs. 4,81,801 crore in December 31, 2016. 

Total Deposits stood at Rs. 2,95,446 crore in December 31, 2017 as against 2,98,972 crore in December 31, 2016.

CASA percentage improved to 40.68 % in December 2017 as against 40.24 % in September 2017 and 39.48 % in June 2017.

High Cost Deposits substantially reduced by 85.62 % to Rs. 1579 crore in December 31, 2017 from Rs. 10,977 crore in December 31, 2016.

Gross Advances of the Bank stood at Rs. 1,79,702 crore in December 2017 as against Rs. 1,82,829 crore in December 2016.

Agriculture Advances stood at Rs. 36,682 crore in December 2017.

MSME Advances registered y-o-y growth of 24.94 % to Rs. 39,175 crore in December 2017 from Rs. 31,356 crore in December 2016.

Retail Loans increased by 16.35 % to Rs. 46,438 crore in December 2017 from 39,913 crore in December 2016. Bank had launched intensive programme ‘Retail Dhamaka’ in December 2017 to boost Retail Credit. Proposals amounting to Rs.4980 crore were sanctioned during the campaign period.

Housing Loan portfolio of the Bank stood at Rs. 20,444 crore in December, 2017 as against Rs. 17,463 crore in December, 2016, registering y-o-y growth of 17.07 %. Housing Loan Portfolio constitutes 44.02 % of the total Retail Portfolio as on December 31, 2017.