After a gap of five quarters, Centurion Bank has posted a net profit of Rs 3.10 crore for the quarter ended December 31, 2002 as against a loss of Rs 26.04 crore in the third quarter of the previous year.
The bank has, however, posted a net loss of Rs 13.96 crore for the nine months ended December 31, 2002 as against a net loss of Rs 52.18 crore in the corresponding period of the previous year.
The last time Centurion Bank declared a profit was in the quarter to June 2001 when it posted a profit of Rs 5 crore.
The ratio of corporate advances to total advances has come down from 45 per cent as on March 2002 to 35 per cent as on September 2002 and to 32 per cent as on December 2002.
The net advances of the bank as on December 2002 was at Rs 1380 crore of which retail advances were at Rs 908 crore. Corporate advances of the bank have gone down from Rs 634 crore in March 2002 to Rs 340 crore in December 2002.
The bank has made a provisioning of Rs 17.31 crore for the third quarter as against Rs 23.61 crore in the previous year. According to Centurion Bank
