::::: CBOA TAMIL NADU WISHES ALL THE PROMOTEES ::::: ::::: Central Bank of India Q1 profit jumps 9 times to Rs 192 cr :::::

Sunday, July 27, 2014

Central Bank of India Q1 profit jumps 9 times to Rs 192 cr

Public sector lender Central Bank of India 's first quarter (April-June) net profit shot up 8.74 times to Rs 191.6 crore from Rs 21.9 crore in the same quarter last fiscal on strong net interest income and lower provisions but impacted by lower other income and huge tax cost.

Net interest income, the difference between interest earned and interest expended, grew 18.5 percent on yearly basis to Rs 1,822 crore in the quarter ended June 2014 while othe income fell 27.9 percent to Rs 431.05 crore during the same period year-on-year.

Asset quality improved sequentially with the gross non-performing assets (NPAs) declined (up 12 basis points year-on-year) to 6.15 percent in June quarter from 6.27 percent in March quarter and net NPA falling (down 23 bps) to 3.62 percent from 3.75 percent Q-o-Q.

Provisions dropped 34.4 percent to Rs 644.8 crore in first quarter of current financial year 2014-15 from Rs 983.3 crore in corresponding quarter of last fiscal but increased 18.9 percent sequentially.

Tax expenses for April-June quarter stood at Rs 137.14 crore as against refund of Rs 4.62 crore in same quarter last fiscal.

Capital adequacy ratio (as per Basel-III norms) slipped to 9.62 percent from 9.87 percent on sequential basis and 11.32 percent on yearly basis.

Courtesy:Money control

Public sector lender Central Bank of India 's first quarter (April-June) net profit shot up 8.74 times to Rs 191.6 crore from Rs 21.9 crore in the same quarter last fiscal on strong net interest income and lower provisions but impacted by lower other income and huge tax cost. Net interest income, the difference between interest earned and interest expended, grew 18.5 percent on yearly basis to Rs 1,822 crore in the quarter ended June 2014 while othe income fell 27.9 percent to Rs 431.05 crore during the same period year-on-year. Asset quality improved sequentially with the gross non-performing assets (NPAs) declined (up 12 basis points year-on-year) to 6.15 percent in June quarter from 6.27 percent in March quarter and net NPA falling (down 23 bps) to 3.62 percent from 3.75 percent Q-o-Q. Provisions dropped 34.4 percent to Rs 644.8 crore in first quarter of current financial year 2014-15 from Rs 983.3 crore in corresponding quarter of last fiscal but increased 18.9 percent sequentially. Tax expenses for April-June quarter stood at Rs 137.14 crore as against refund of Rs 4.62 crore in same quarter last fiscal. Capital adequacy ratio (as per Basel-III norms) slipped to 9.62 percent from 9.87 percent on sequential basis and 11.32 percent on yearly basis.

Read more at: http://www.moneycontrol.com/news/results/central-bankindia-q1-profit-jumps-9-times-to-rs-192-cr_1138275.html?utm_source=ref_article
Public sector lender Central Bank of India 's first quarter (April-June) net profit shot up 8.74 times to Rs 191.6 crore from Rs 21.9 crore in the same quarter last fiscal on strong net interest income and lower provisions but impacted by lower other income and huge tax cost. Net interest income, the difference between interest earned and interest expended, grew 18.5 percent on yearly basis to Rs 1,822 crore in the quarter ended June 2014 while othe income fell 27.9 percent to Rs 431.05 crore during the same period year-on-year. Asset quality improved sequentially with the gross non-performing assets (NPAs) declined (up 12 basis points year-on-year) to 6.15 percent in June quarter from 6.27 percent in March quarter and net NPA falling (down 23 bps) to 3.62 percent from 3.75 percent Q-o-Q. Provisions dropped 34.4 percent to Rs 644.8 crore in first quarter of current financial year 2014-15 from Rs 983.3 crore in corresponding quarter of last fiscal but increased 18.9 percent sequentially. Tax expenses for April-June quarter stood at Rs 137.14 crore as against refund of Rs 4.62 crore in same quarter last fiscal. Capital adequacy ratio (as per Basel-III norms) slipped to 9.62 percent from 9.87 percent on sequential basis and 11.32 percent on yearly basis.

Read more at: http://www.moneycontrol.com/news/results/central-bankindia-q1-profit-jumps-9-times-to-rs-192-cr_1138275.html?utm_source=ref_article
Public sector lender Central Bank of India 's first quarter (April-June) net profit shot up 8.74 times to Rs 191.6 crore from Rs 21.9 crore in the same quarter last fiscal on strong net interest income and lower provisions but impacted by lower other income and huge tax cost. Net interest income, the difference between interest earned and interest expended, grew 18.5 percent on yearly basis to Rs 1,822 crore in the quarter ended June 2014 while othe income fell 27.9 percent to Rs 431.05 crore during the same period year-on-year. Asset quality improved sequentially with the gross non-performing assets (NPAs) declined (up 12 basis points year-on-year) to 6.15 percent in June quarter from 6.27 percent in March quarter and net NPA falling (down 23 bps) to 3.62 percent from 3.75 percent Q-o-Q. Provisions dropped 34.4 percent to Rs 644.8 crore in first quarter of current financial year 2014-15 from Rs 983.3 crore in corresponding quarter of last fiscal but increased 18.9 percent sequentially. Tax expenses for April-June quarter stood at Rs 137.14 crore as against refund of Rs 4.62 crore in same quarter last fiscal. Capital adequacy ratio (as per Basel-III norms) slipped to 9.62 percent from 9.87 percent on sequential basis and 11.32 percent on yearly basis.

Read more at: http://www.moneycontrol.com/news/results/central-bankindia-q1-profit-jumps-9-times-to-rs-192-cr_1138275.html?utm_source=ref_article

Central Bank of India Q1 Results Declared

Performance highlights of our bank for this Quarter. 
Total Business is Rs.4,26,829 crores 
out of which
(Deposits Rs.2,40,782 Crores and Advance Rs.1,86,047 Crores) 
and 
Net Profit is Rs.192.00 Crores. 
 
Gross NPA Rs.11449.00 Crores 
and 
Net NPA Rs.6505 Crores.

Tuesday, July 22, 2014

GS/CIR/2014/19

GS/CIR/2014/19                                                         21.07.2014

To
All Officers

Dear Friends,

Reg. : Arbitrary changes in additional petrol reimbursement scheme to Branch Managers

From the various circulars issued by our Corporate Management, you must have been realized, by now, that our Management is least sensitive about the feelings of the field functionaries / Branch Managers who are the pillars of our esteemed institution. The clear example of mockery of this is the circular issued regarding additional petrol reimbursement facility hitherto available is converted in such a way as a weapon given to the sanctioning authorities to decline the genuine claims.

Wednesday, July 16, 2014

CIRCULAR/GS/2014/18



CIRCULAR NO.: GS: 2014: 018                                              Date: 21.06.2014

 
TO ALL OFFICERS                                                               PLEASE CIRCULATE

Dear Friends,
We reproduce hereunder the Circular No. CIRCULAR/GS/2014/18 dated 15.06.2014 received from our Federation for your information.
With best regards                                                                      
           
Yours sincerely
sd/- (N SAKETHRAM)
GENERAL SECRETARY

--------------------------------------------------------------------------------------------
CIRCULAR/GS/2014/18                                                                             15th July 2014
TO ALL OFFICERS:
Dear Friends,
AN UNTHOUGHTFUL INCIDENCE AND APPROACH OF MANAGEMENT

Monday, July 14, 2014

CIRCULAR NO.: GS: 2014: 015

CIRCULAR NO.: GS: 2014: 015                                              Date: 21.06.2014
TO ALL OFFICERS                                                               PLEASE CIRCULATE
Dear Friends,
We reproduce hereunder the Circular No. CIRCULAR/GS/2014/15 dated 21.06.2014 received from our Federation for your information.
With best regards                                                                      
           
Yours sincerely
sd/- (N SAKETHRAM)
GENERAL SECRETARY
................................................................................................................................................................

CIRCULAR NO.: GS: 2014: 014

CIRCULAR NO.: GS: 2014: 014                                                                             Date: 14.06.2014
TO ALL OFFICERS                                                                    PLEASE CIRCULATE
Dear Friends,
We reproduce hereunder the Circular No. CIRCULAR/GS/2014/14 dated 14.06.2014 received from our Federation for your information.
With best regards                                                                        
           
Yours sincerely
Sd/-
N SAKETHRAM
GENERAL SECRETARY