The state-owned lender Bank of Baroda has reported a 84.81% jump in its net profit for the first quarter ending June 30, 2009, to Rs 685.38 crore as against Rs 370.86 crore during the corresponding period a year ago.
The bank?s total income rose by 24.40% to Rs 4,735.15 crore during the period. Interest income stood at of Rs 4,032.11 crore, up 22.41%. Total business of the bank expanded by 28.2% to Rs 3,41,282 crore, of which deposits rose by 28.2%, whereas advances increased by 28.3%. CASA on the domestic front stood at 35.09% during the quarter ended 2009-10.
BoI?s net remains flat at Rs 584 cr
Bank of India has registered a flat growth in its net profit during the first quarter of the current financial year ending June 30 , 2009.
The net profit of the bank grew by 3.91% during the first quarter to Rs 584 crore over Rs 562 crore achieved by the bank during the same period a year ago. Announcing the Q1 results in Mumbai on Monday, M Narendra, executive director of the bank, said that it was a conscious decision taken by the bank to absorb maximum shock during the beginning of the year itself. ?
While the bank provided for Rs 45 crore for VRS scheme, consequent to a recent apex court order on the subject, it had to increase the provision of Rs 105.77 crore for As 15 and Rs 68 crore for AS 11 during the period.
Central Bank?s net zooms by 353%
State-owned Central Bank of India has registered a growth of 353%in net profit to Rs 267 crore when compared to the mark of Rs 59 crore during the same period a year ago. The total business of the bank increased by 18.6% to Rs 2,24,029 crore during the period under observation. While deposits increased by 18.6%, advances grew by 18.7%.
While announcing the Q1 results in Mumbai on Monday, S Sridhar, chairman and managing director of the bank, said, ?We have restructured a total accounts of 1461 aggregating to Rs 1664 crore during the period.?