Centurion Bank net loss at Rs 31.2 cr in Q2

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Mumbai, Oct 31: Centurion BANK reported a net loss Rs 31.24 crore for the second quarter ended September 30, 2001, compared to a profit of Rs 9.67 crore for the same period of last fiscal. Operating profit stood at Rs 2.01 crore (Rs 12.76 crore).

Interest earned was Rs 120.37 crore (Rs 145.48 crore) and other operating income was Rs 21.06 crore (Rs 22.16 crore), respectively. Total income stood at Rs 141.43 crore (Rs 167.64 crore). Interest expended and operating expenses stood at Rs 100.62 crore (Rs 120.41 crore) and Rs 38.80 crore (Rs 34.47 crore), respectively. Total expenditure (excluding provision and contingencies) stood at Rs 139.42 crore (Rs 154.88 crore).

Other provisions and contingencies stood at Rs 36.50 crore (Rs 3 crore). The paid up equity share capital stood at Rs 152.47 crore. Centurion Bank reported a net loss of Rs 26.14 crore for the half year ended September 30, 2001 as compared to profit of Rs 21.43 crore for the same period last fiscal. Operating profit stood at Rs 17.86 crore (Rs 36.52 crore).

Total income stood at Rs 299.72 crore (Rs 324.65 crore). Total expenditure (excluding provision) stood at Rs 281.86 crore (Rs 288.13 crore). The provisions and contingencies include provisions for non-performing assets, capital market exposure. The bank’s director confirmed the appointment of V Janaki Raman as CMD but is awaiting regulatory approvals.