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Central Bank of India registered operating profit of Rs. 3089 crore

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Mumbai: Public sector lender Central Bank of India has reported a net loss of Rs. 2439 crore for the financial year ended March 31, 2017. The results were announced at the meeting held in Delhi on Saturday, May 13, 2017. The net loss for the quarter ended March 31, 2017 reduced to Rs. 592 crore in comparison to the net loss of Rs. 898 crore for the quarter ended March 31, 2016.

In the profitability front the bank showed a total Income for the financial year ended March 31, 2017 was Rs. 27537 crore as compared to Rs.27825 crore for the financial year ended March 31, 2016.  The non Interest Income of the Bank increased to Rs. 2876 crore for the financial year ended March 31, 2017 compared to Rs. 1938 crore for the financial year ended March 31, 2016, registering y-o-y growth of  48.38 %.

The operating profit of the bank stood at Rs. 3089 crore for the financial year ended March 31, 2017 as compared to Rs. 2642 crore for the corresponding previous financial year ended March 31, 2016, registering y-o-y growth of  16.92 %.

The asset quality of the bank has shown an increase to Rs. 1183 crore in the financial year ended March 31, 2017 as compared to Rs. 608 crore in the previous financial year ended March 31, 2016. Upgradation of assets improved to Rs. 2337 crore in the financial year March 31, 2017 as compared to Rs.1256 crore in the previous financial year ended March 31, 2016.

 Gross NPA to gross advances increased to 17.81 % as on March 31, 2017 from 11.95 % as on March 31, 2016, which was due to sale of loan assets of Rs. 22991.22 crore through IBPC participation. While on the net NPA to Net Advances increased to 10.20 % as on March 31, 2017 from 7.36 % as on March 31, 2016. In the provision coverage ratio improved to 58.43% as on March 31, 2017 from 51.52 % as on March 31, 2016.

Total Business of the Bank stood at Rs. 449679 crore as at March 31, 2017 compared to Rs. 456336 crore as at March 31, 2016.

 Total Deposits reached to Rs. 296671 crore in March 2017 from Rs. 266184 crore as at March, 2016 showing a y-o-y growth of 11.45 %.

CASA percentage improved to 39.20 % in March 2017 as against 35.48 % in March 2016.

 Gross advances of the bank stood at Rs. 153008 crore in March 2017 as against    Rs. 190152 crore in March 2016 which was due to sale of loan assets of Rs. 22991.22 crore through IBPC participation.

 Agriculture Advances increased by 7.71 % to Rs. 39672 crore in March 2017 from   Rs. 36833 crore in March 2016.  MSME Advances registered y-o-y growth of 2.46 % to Rs. 32368 crore in March 2017 from  Rs. 31590 crore in March 2016. Retail loans for the financial year ended March 31, 2017 stood at Rs. 32008 crore constituting 20.92% of the total loans and advances.

 Housing loan portfolio of the bank stood at Rs. 12510 crore constituting 39.08 % of the total retail portfolio as on March 31, 2017.

Capital adequacy ratio (CRAR) as per Basel III stood at 10.95 % as on March 31, 2017, of which, Tier I capital stood at 8.62 % and Tier II at 2.33 %. Bank’s net worth stood at Rs. 14,735.84 crore as on March 31, 2017.

In the digital front the bank have 5285 ATMs as on March 31, 2017 including 121 ATMs installed during the financial year ended March 31, 2017. Bank recorded sizable increase in transactions through Alternate channels (ATM, Mobile banking and Net banking) which has reached to 509.89 lakh i.e. 56.55% of total transactions. Bank registered significant increase in demand for new Debit Cards from a monthly average of 1.60 lakh to 2.50 lakh.

During the financial year bank was awarded first prize for Excellent Implementation of Official Language Policy of Government of India.

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