Centurion Bank Q4 net at Rs 26.04 crore

Centurion Bank of Punjab has posted a net profit of Rs 26.04 crore for the fourth quarter ended March 31, 2006. Its total income for the same period stood at Rs 315.83 crore.

Net profit for the year ended March 31, 2006 was Rs 87.8 crore, while profit for 2004-05 stood at Rs 25.11 crore.

Total income in 2005-06 was Rs 1,052.06 crore against Rs 418.29 crore a previous financial year, the bank said in statement after its directors took the results on board today.

Results for the quarter and year ended March 31, 2006 include operations of the erstwhile Bank of Punjab Ltd (BoP), which was merged with Centurion Bank from April 1, 2005.

The figures for 2004-05 are for are only for Centurion bank. Hence, the results for 2005-06 are not comparable with those for 2004-05.

Deposits at the end of March 2006 stood at Rs 9,399.6 crore against Rs 3,531 crore as on March 31, 2005.

Advances rose to Rs 6,533.4 crore in reporting year from Rs 2,194 crore for 2004-05. The net interest margin was 4.58 per cent at end of march 3006 lower than 4.84 per cent at end of March 2005.

The bank's net non-performing assets (NPAs) declined to 1.13 per cent at end of 2005-06 from 2.49 per cent a year ago.

The capital adequacy ratio was 12.52 per cent at the end of March 2006 against 21.42 per cent a year ago.