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  1. Central Bank back in black with Q2 profit

Central Bank back in black with Q2 profit

Public sector lender Central Bank of India on Saturday reported a net profit...

By: | Published: November 9, 2014 12:33 AM

Public sector lender Central Bank of India on Saturday reported a net profit of R103 crore in the September quarter of FY15, as against a loss of R1,509 crore it had reported in the same quarter last year. Net profit in Q2 was boosted by a 65% decrease in provisions made in the quarter under review at R708 crore, from R2,049 crore made in the same quarter of FY14.

Central Bank’s net interest margins (NIMs) improved 40 basis points (bps) on a year-on-year basis to 2.85% but fell 2 bps sequentially.

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