Central Bank of India has witnessed 14.5 per cent growth in its total income to Rs 6,443 crore from Rs 5,625 crore while its total business grew by 15.4 per cent to Rs 4,05,383 crore during the April-June period of the current financial year.
The bank, which has announced its Q1 results, said in a statement that its total deposits reached Rs 2,30,760 crore in June 2013 from Rs 1,96,977 crore during the corresponding period.
Its operating profit also stood at Rs 1,000 crore as on June 30, 2013, which was 26 per cent higher than Rs 793 crore in the corresponding period on a year-on-year basis, the statement added.
Gross advances of the bank grew by Rs 20,379 crore to Rs 1,74,623 crore in June 2013 from Rs 1,54,244 crore of the corresponding period, thus registering a year on year growth of 13.2 per cent.
At the same time though, its net profit witnessed a 93 per cent fall to Rs 21.93 crore for the April-June quarter this fiscal due to higher provisions for rising bad loans.
The bank had reported a net profit of Rs 335.9 crore for the quarter ended June 30, 2012.
The bank made provisions and contingencies of Rs 983.26 crore in the first quarter of the current fiscal, up from Rs 352.94 crore in the corresponding period of 2012-13.
The net non-performing assets (NPAs) or bad loans of the bank during the quarter under review rose to 3.85 percent from 3.22 percent in the corresponding period of previous fiscal.
Gross NPA during the quarter under review increased to 6.03 percent from 4.87 percent in the corresponding period of previous fiscal.