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Central Bank profit up 227%, seeks Rs700 cr from govt

Central Bank profit up 227%, seeks Rs700 cr from govt
PTI
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First Published: Sat, Oct 31 2009. 12 45 AM IST
Updated: Sat, Oct 31 2009. 12 45 AM IST
Mumbai: Public sector bank Central Bank of India on Friday posted 227% growth in profit to Rs313.93 crore for the quarter ended 30 September, against Rs96.15 crore in the corresponding period last fiscal. Total income of the bank rose 22.21% to Rs3,384.12 crore, against Rs2,768.89 crore in the same period last fiscal.
It added that it has sought a further capital infusion of Rs700 crore from the union government. The bank has no plans for a follow-on public offer (FPO) in the near future, chairman and managing director S. Sridhar said at a Mumbai press conference. He added that the bank was close to completing its restructuring which involved the creation of several verticals to cover key business areas. “This restructuring will start reflecting from the fourth quarter onwards,” he said.
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First Published: Sat, Oct 31 2009. 12 45 AM IST