Central Bank net rises marginally

Mumbai, June 24: Central Bank of India has clocked a meagre rise in net profit to Rs 150.69 crore for the financial year ended March 31, 2...

Mumbai, June 24: Central Bank of India has clocked a meagre rise in net profit to Rs 150.69 crore for the financial year ended March 31, 2000, up from Rs 146.25 crore in the previous year.

Total investments of the bank was Rs 17,084 crore, with the share of current investments rose to 95.36 per cent. Interest income rose 14 per cent to Rs 3,747.99 crore, while other income increased 25 per cent to Rs 437.40 crore. The bank incurred total expenditure of Rs 4,035 crore compared to Rs 3,485 crore last year.

Trading profit from secondary market operations in securities recorded a growth of 94.6 per cent to Rs 132.56 crore, with an average yield of 11.52 per cent as compared to 11.54 per cent in the previous year. The average business per employee of the bank has gone up by 17.4 per cent to 93.3 lakh. The capital adequacy ratio of the bank stood at 11.18 per cent.

The bank plans to achieve 70 per cent computerisation of its business by the end of this financial year. The bank has also finalised its wide area network (WAN) plan for 201 offices which will cover its administrative offices, non banking offices, quick cheques collection centres and major branches.

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