| Hot Pursuit | Friday, July 27, 2012 15:23 Hrs IST |
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Central Bank of India slumps as bad loans rise Central Bank of India tumbled 6.28% to Rs 68.70 at 15:21 IST on BSE as the state-run bank's ratio of net non-performing assets rose to 3.22% of net advances as on 30 June 2012 from 3.09% as on 31 March 2012.
The state-run bank announced the results during trading hours today, 27 July 2012. Meanwhile, the BSE Sensex was up 207.11 points or 1.24% to 16,846.93. The stock declined on high volumes. On BSE, 7.97 lakh shares were traded in the counter as against average daily volume of 67,000 shares in the past two weeks. The stock hit a high of Rs 76.60 and a low of Rs 68 so far during the day. Central Bank of India's ratio of net non-performing assets (NPA) stood at 3.22% of net advances as on 30 June 2012, higher than 3.09% as on 31 March 2012 and 0.87% as on 30 June 2011. The ratio of gross NPA stood at 4.87% of gross advances as on 30 June 2012, higher than 4.83% as on 31 March 2012 and 2.29% as on 30 June 2011. Central Bank of India's net profit rose 19.64% to Rs 335.95 crore on 16.21% growth in total income to Rs 5624.97 crore in Q1 June 2012 over Q1 June 2011. Central Bank of India's provisions and contingencies declined 10.13% to Rs 352.94 crore in Q1 June 2012 over Q1 June 2011. Central Bank of India's Capital Adequacy Ratio (CAR) (as per Basel II norms) stood at 11.58% as on 30 June 2012, lower than 12.4% as on 31 March 2012 and 12.68% as on 30 June 2011. The Government of India (GoI) holds 79.15% stake in Central Bank of India (as per the shareholding pattern as on 30 June 2012).
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