Centurion Bank of Punjab has registered a Rs 33 crore net profit in the first quarter ending June 30,2007. The net was up 15% as compared to that of the corresponding quarter of last year.
The board of directors of the bank on Monday extended the deadline for the merger with Lord Krishna Bank to October 31, 2007 and passed a resolution to undertake the business of pension funds management through the creation of a subsidiary for this purpose.
During the quarter, the board approved the bank’s plan to raise Rs 500 crore in tier I capital. The amount will be raised through an issue of equity shares via qualified institutional placement (QIP) offering. Thes approval is, however, subject to shareholder and regulatory approvals.
The ratio of the non-performing loans to net customer assets stood at 1.6%. The bank?s two-wheeler portfolio has witnessed an increase in delinquencies in line with market conditions.
During the period, deposits of the bank grew 55 % at Rs 16,099 crore. The cost of deposits for the quarter ended June 30, 2007quarter at 7.4% increased due to the changes in the interest rate environment.
The bank?s capital position remained healthy, total capital as a percentage of its risk weighted assets was 11.0% of which the tier I capital adequacy ratio was 9.3% and the tier II capital adequacy ratio was 1.7%.
DHFL profit up at Rs 14 crore
Dewan Housing Finance Corporation Limited (DHFL) saw its net profit growing by 42.70% to Rs 14.17 crores for the first quarter of the current fiscal as compared to corresponding previous quarter.
The total income of the company has risen by 66.01% to Rs.108.67 crores and the loan disbursements during the period were Rs 409.40 crores as compared to Rs 287.92 crore during the corresponding quarter, registering a growth of 42.19%.
The loan portfolio of the company stood at Rs 3591.31 crores, a growth of 45.40% . The company?s total assets stood at Rs 3885.02 crores as on 30th June, 2007.
The ratio of loans disbursed to loans sanctioned for the quarter stood at 89.47% for the reporting period.
