Central Bank of India

Central Bank sees skyrocketing profits

Central Bank sees skyrocketing profits

March 31st, 2010 saw the Central Bank of India's net profit to reach Rs. 1,058 Crore. Their profit for 2008-2009 was Rs. 571 Crore. The dividend along with interim comes up to a total of Rs. 2 per share for share holders.

The gross income of the bank went up to Rs. 13,799 Crore from Rs. 11,525 Crore with a 20% increase. The operating profit was up 43.2% with Rs. 2,058 Crore . The Net interest income increased to Rs. 2,545 Crore from last years Rs. 2,228 Crore by 14.2%.

Central Bank of India’s net profit jumps

Central Bank of India’s net profit jumps

Central Bank of India has announced its fourth quarter financial results for the fiscal year 2009-10 and has managed to post a remarkable net profit and revenue. The Bank has posted a net profit of Rs 1716.80 million for the quarter that ended in 31st March, 2010. This net profit figure was at Rs 625.10 million for the same quarter in the preceding year.

Net profit nearly trebled to Rs 171.6 crore in Q4 for Central Bank

Net profit nearly trebled to Rs 171.6 crore in Q4 for Central Bank

Over the same period last year, State owned Central Bank of India today said its net profit nearly trebled to Rs 171. 6 crore for the fourth quarter ended March 31. The Company has reported a net profit of Rs 1,058 crore, up 85.36 percent over the same period a year ago. The bank’s board has proposed a final dividend of Re 1 per share to shareholders for the financial year 2009 – 2010. In the last year, Total income increased to Rs 13, 799.55 crore from Rs, 11, 525.16 crore. The profit of the company was at Rs. 1,716.80 million as compared to as Rs. 625.10 million for the quarter ended Mar.

Central Bank to raise Rs 500-600 crore through various options

State-run Central Bank of India (CBI) plans to raise Rs 500-600 crore in the current financial year, for which it would try all options for raising funds.

These options may include a basket of products such as hybrid and subordinate bonds, which could be exercised to raise the required capital to meet the capital adequacy ratio (CAR) under the Basel-II norms.

The bank is also planning to apply to the ministry for a follow-on public offer (FPO).

ICRA signs MoU with Central Bank for assigning ratings

Credit rating agency, ICRA Ltd has announced that it has signed a Memorandum of Understanding (MoU) with Central Bank of India.
Under the MoU, ICRA will assign ratings to the Bank's loans and its other exposures under the standardized approach of RBI's New Capital Adequacy Framework for Basel-II.

Thomas Cook, Central Bank Signs Up Money Transfer Deal

Leading outbound travel agency Thomas Cook (India) Ltd has entered into an agreement with Central Bank of India to provide a money transfer service through MoneyGram International, a leading international payment service.

Thomas Cook has joined MoneyGram in India since 1997.

In a press conference, Parag Mehta, president and head, foreign exchange, Thomas Cook said, “The network of Central Bank gives us access to areas that weren't in our reach before.”