Central Bank 02-03 Net Up 88 Per Cent

Mumbai, May 20: | Updated: May 21 2003, 05:30am hrs
Central Bank of India has reported a rise of 87.73 per cent in its net profit for the fiscal 2002-03 at Rs 306 crore as compared to Rs 163 crore in the preceding fiscal. Total business of the bank registered a growth of 8.62 per cent at Rs 74,324 crore.

Total deposits stood at Rs 51,165 crore as on March 31, 2003 reflecting an increase of 8.55 per cent over that of the last fiscal and gross advances rose 8.20 per cent to Rs 24,851 crore, the bank said in a statement on Tuesday.

Net non-performing assets as a proportion of net advances fell to 6.74 per cent in 2002-03 as compared to 7.98 per cent the previous fiscal. The capital adequacy ratio stood at 10.51 per cent in 2002-03.