|
Centurion
Bank posts loss of Rs 105 crore
Our
Banking Bureau
3 July 2004
 Mumbai:
Centurion Bank has posted a net loss of Rs 105.14 crore
for the year ended March 2004, compared to a net loss
of Rs 25.36 crore in the previous year. The high losses
were due to higher provisioning.
The
bank made provisions of Rs 117 crore during the year under
review and provisions of Rs 425 crore over a four-year
period.
Speaking
to newspersons, Rana Talwar, chairman, said: "Now
we have a clean balance sheet before us. The excitement
begins now as we have a platform to go forward on. We
will have a net NPA of three per cent by this year-end.''
Talwar
received RBI approval to be chairman of Centurion Bank
on Wednesday.
Net
NPA as a percentage to total assets of the bank was at
4.3 per cent compared to 7.5 per cent the previous year.
 In
terms of numbers, the net NPA figure stood at Rs 69 crore
(Rs 104 crore).
Gross NPAs stood at Rs 221 crore (Rs 228 crore). The bank
has conducted provisioning with a coverage ratio of 69
per cent, higher than the industry average of 60 per cent.
 For
the full year, the bank's total income dropped to Rs 396.77
crore (Rs 449.57 crore), while total expenditure decreased
to Rs 384.64 crore (Rs 427.88 crore).
List of reports
on Centurion Bank
List of general reports
on banks
|
