PERFORMANCE HIGHLIGHTS OF CENTRAL BANK OF INDIA

PERFORMANCE HIGHLIGHTS Q4 2010-11 AND FY 2010-11 – CENTRAL BANK OF INDIA CROSSES TOTAL BUSINESS OF RS. 3,00,000 CRORES IN FY 2010-11

NET PROFIT UP BY 19.00%

NET INTEREST INCOME UP BY 109%

BUSINESS

Ø       The Total Business of the Bank crossed Rs. 3,00,000 crores and increased to Rs. 3,10,763 crores as on March 31, 2011 from Rs. 2,69,225 crore as on March 31, 2010 registering a growth of 15.43% (Y-o-Y basis).

Ø       Total Deposits as on March 31, 2011 stood at Rs.1,79,356 Crore in comparison to Rs. 1,62,107 Crore as on March 31, 2010 showing a growth of 10.64% over 2009-10.

Ø       CASA Deposits comprised 35.17% of the Total Deposits as on 31st March 2011 as compared to 34.45% as on March 31, 2010.

Ø       The Total Advances of the Bank increased from Rs 1,07,118 crore as of March 31, 2010 to Rs. 1,31,407 Crore registering a Y-O-Y growth of 22.67%.

Ø       Gross Income in 2010-11 registered a growth of 19.47% from Rs. 13799 crore to Rs.16486 crore on Y-o-Y basis.

Ø       Net Interest Income of the Bank registered a significant growth of 109.27% from Rs. 2545 crore to Rs. 5326 crore on Y-o-Y basis.

Ø       Operating Profit of the Bank was up by 25.90% at Rs. 2591 crore as on March 31, 2011 from Rs. 2058 crore as on March 31, 2010 on Y-o-Y basis.

Ø       The Operating Profit is after making full provision as per RBI guidelines for Pension and Gratuity liability. During the year 2010-11, the additional provision made for pension liability/2nd option amounted to Rs. 809.60 crores and gratuity Rs. 119.36 crores.

Ø       Net Interest Margin for the Q4 (2010-11) was 3.47% up from 1.81% for the Q4 2009-10. For the year 2010-11 NIM increased to 3.31% from 1.86% for the year 2009-10.

Ø       The Net Profit for the year 2010-11 amounts to Rs. 1252 crore as compared to Rs. 1058 crores for the year 2009-10, a growth of 19% on Yo-Y basis.

Ø       Net NPA ratio declined to 0.65% as on March 31, 2011 from 0.69% as on 31.03.2010.

Successful Rights Issue

The Bank completed a successful Right Issue of Rs. 2497 croresin March / April. The Rights ratio was 3:5 and was over subscribed 1.07 times. With this Issue, the Capital Adequacy of the Bank increases to over 13.5% and Tier I to over 8.5%.

HEALTHY ASSET QUALITY

Ø       Net NPA stood at Rs. 847 crore as on March 2011 against Rs. 727 crore as on March 31, 2010.

Ø       The percentage of net NPA as on March 31, 2011 is 0.65 % of Net Advances.

Ø       NPA Coverage – cum - Provision is 67.64% as on March 31, 2011.

NEW INITIATIVES

Ø       100% CBS during Centenary Year

Ø       Educational Loans in the range of Rs. 5000 to Rs. 1,50,000 for vocational training lacs to the beneficiary according to the project.

FINANCIAL INCLUSION

Ø       Bank has been allotted 3741 villages having population more than 2000 under FIP for coverage by March 2012. Bank had planned to cover 1766 villages by March 2011. Against this target Bank has covered 1776 by appointing 1761 BCs as on March 31, 2011. As on date Bank has covered a total of 5696 villages.

Ø       Under Brick and Mortar Model, Bank has been allotted 20596 villages under earlier SLBC Program. Bank has already covered 15999 villages.

Ø       Bank has opened 46 RUDSETIs as on 31.03.2011.

Ø       Bank has opened 3 Cent Sahayog centres at Vadkun, Ratlam and Hoshangabad.

Ø       100% financially included villages 15999.

Ø       No. of No Frill Accounts 5714283

Ø       No. of Accounts opened & Smart Cards activated 1331602

RURAL BANKING

Ø       Collaboration with Commonwealth Secretariat for Youth Entrepreneurship Development in four districts- Murshidabad (WB), Sultanpur (UP), Sawai Madhopur (Rajasthan), Ernakulam (Kerala).

Ø       Rendering of Technology Consultancy Services for Micro-Finance in St.Lucia in West Indies under Commonwealth Games Association.

Ø       Organised inclusive and integrated programme on Small Business Competitiveness Development Programme in Jaipur under Commonwealth Games Association.

AWARDS /RECOGNITION

Ø       Skoch Financial Inclusion Award 2011 for implementing the Bihar Rural Livelihood Project also known as JEEVIKA Project.

Ø       SKOCH Award for Best Business Model: 2010

Ø       My FM stars of the Industry Retail Leadership Award in Feb. 2011.

Source: https://www.centralbankofindia.co.in/upload/news/Press_Editors_Press_Release_results.pdf