Central Bank net up 102 per cent
By Our Banking Bureau | 20 May 2004
Mumbai: Central Bank of India has posted a 102 per cent rise in net profit for the financial year ended 31 March 2004, at Rs 618.11 crore as against a net profit of Rs 305.52 crore in the corresponding period, the previous year.
Operating profit grew to Rs 1,528.93 crore (Rs 923.85 crore).
Total deposits were at Rs 55909 crore (Rs 51,165).
Gross Advances were at Rs 24,632 (Rs 23,941 crore).
The bank expects its business to grow to around Rs. 90,000 crores during the current year and plans to open its Off Shore Banking unit in Mumbai and New Delhi. Tie-ups for non-life insurance business were also on the cards, a bank release said.