CENTRAL BANK OF INDIA = Q2 FY 2011 (SEPT 2010) RESULTS = VERY GOOD PERFORMANCE =

CENTRAL BANK OF INDIA

Q2 FY 2011 RESULTS

CENTRAL BANK OF INDIA has declared good results for the 2^nd w/e sept 2010.

Interest on Advances is Rs.2706 Cr – up by 9.17% from previous qtr and up by 22.32% from corresponding qtr of last year.

Total Income is Rs.3889.84 Cr – up by 6.34% from previous qtr and up by 11.28% from corresponding qtr.

Interest Expended is Rs.2298 cr – marginally up by 0.23% from previous qtr but DOWN BY 4.3% from corresponding qtr.

Operating Profit   is Rs.777.87 Cr – up by 16.53% from previous qtr and up by 31.9% from corresponding Qtr.

Provisions   are at Rs.240 Cr – up by 22.83% from previous qtr and up by 34.08% from corresponding Qtr.

Net Profit   is Rs.379.38 Cr – up from Rs.336.81 cr in previous qtr by 12.64% and up from Rs.306.44 Cr in corresponding qtr by 23.8% from corresponding qtr.

Capital Adequacy Ratio is 10.89 compared to 11.66 in previous qtr and 11.83 in corresponding qtr.

Basic EPS is Rs.8.7 (on FV of Rs.10) compared to Rs.7.72 in previous qtr and Rs.7.04 in corresponding qtr.

% of Gross/Net NPA is 0.68 – down from 0.77 in previous qtr and down from 0.74        in corresponding qtr.

Return on Assets is reasonable at 0.86 compared to 0.78 in previous qtr and 0.74 in corresponding qtr.

OTHER HIGHLIGHTS:

The Total Business grew 16.34%, to Rs. 283561 crore in Q2 FY'11 from Rs. 243718 crore in Q2 FY'10.

The net interest margin improved to 3.42% in Q2 FY'11 as compared to 1.81% in Q2 FY'10.

Aggregate Deposits of the bank increased to Rs. 167813 crore for the half year ended September 2010 as compared to Rs. 151506 crore in the corresponding period previous year, registering a growth of 10.76% on YoY basis.

The CASA Deposits grew 23.61% from Rs. 46750 crore in HY'10 to Rs. 57790 crore for HY'11. The CASA deposit ratio stood at 34.43% as on September 30, 2010.

The Gross Advances have increased by 25.52% to Rs. 115748 crore for the half year ended September 2010 from Rs. 92212 crore in the corresponding period, previous year.

Capital Adequacy of the Bank stands at 10.89% as per Basel I as on September 30, 2010. As per Basel II the CRAR stands at 11.65% as on September 30, 2010.

Cost to Income ratio increased to 51.15% in Q2 FY'11 from 47.71% in Q2 FY'10.

Cost of Deposits reduced to 5.48% for the quarter ended September 30, 2010 as compared to 6.54% for the quarter ended September 30, 2009.

Yield on Advances increased to 10.20% in Q2 FY'11 as compared to 9.92% in Q2 FY'10.

Yield on Investment increased to 6.95% for the quarter ended September, 2010 as compared to 6.78% for the quarter ended September 2009.

Gross NPA increased to Rs. 2634 crore in HY'11 as compared to Rs. 2430 crore in HY'10. Gross NPA ratio stood at 2.28% as on September 30, 2010.

Net NPA stood at Rs. 776 crore in HY'11 from Rs. 625 crore in HY'10, an increase of 24.16%. Net NPA ratio works out to 0.68% as on September 30, 2010.

NPA provision coverage is 70.50% as on September 30, 2010.

RESULTS IN FIGURES :

CENTRAL BANK	30-Sep-10	30-Jun-10	DIF %1	31-Dec-09	DIF %2
Interest on Advances	270612	247892	9.17	221238	22.32
Income on Investments	91887	91528	0.39	88523	3.8
Income on Balances With RBI	742	1662	-55.35	3362	-77.93
Others	1198	-		7	17014.29
Interest Earned	364439	341082	6.85	313130	16.39
Other Income	24545	24715	-0.69	36412	-32.59
Total Income	388984	365797	6.34	349542	11.28
Interest Expended	229762	229236	0.23	240080	-4.3
Employees Cost	53694	48147	11.52	32655	64.43
Other Operatg Expenses	27741	21663	28.06	17832	55.57
Operatg Expenses	81435	69810	16.65	50487	61.3
Operating Profit	77787	66751	16.53	58975	31.9
Provisions	24048	19579	22.83	17935	34.08
Profit before tax	53739	47172	13.92	41040	30.94
Tax Expense	15801	13491	17.12	10396	51.99
Net Profit	37938	33681	12.64	30644	23.8
Face Value (in Rs.)	10	10	0	10	0
Paid-up Equity	40414	40414	0	40414	0
Capital Adequacy Ratio	10.89	11.66	-6.6	11.83	-7.95
Basic EPS	8.7	7.72	12.69	7.04	23.58
Gross/Net NPA	77635	81542	-4.79	66064	17.51
% of Gross/Net NPA	0.68	0.77	-11.69	0.74	-8.11
Return on Assets	0.86	0.78	10.26	0.74	16.22
Public holding (%)	19.8	19.8	0	19.8	0

ANNOUNCEMENTS

TO THE EXCHANGE

28-10-2010    Central Bank Of India has informed the Exchange that the Bank has fixed November 10, 2010 as the Record date for the purpose of interim dividend. Further, Interim Dividend at Re.1/- per share, as announced by the Board at its meeting held on October 26, 2010, would be paid to the eligible shareholders on/before November 25, 2010.

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