Page 6 - Central Bank Of India

Central Bank of India yet to take decision on closing 600 branches

The number of branches stood at 4,528 at the end of December 2021

Central Bank of India to close 600 branches by March 2023, says report

The bank is looking to reduce the number of branches by 600 by either shutting down or merging loss-making branches by the end of March 2023

Valuables worth Rs 2.5 crore go missing from Kanpur bank locker

The theft came to light on March 14, when Manju Bhattacharya, one of the customers, checked her locker but found her valuables missing.

Govt to provide bulk of Rs 15,000 cr capital support to weak PSU banks

Weak public sector lenders like Central Bank of India and Punjab & Sind Bank will get the lion's share of the Rs 15,000 crore earmarked for capital infusion in state-owned banks for the current fiscal. This will help these public sector banks (PSBs) meet regulatory requirements. The capital infusion of Rs 15,000 crore would go mostly to banks which had got money through non-interest-bearing bonds in the previous year as the RBI had raised some concerns on the fair valuation of these instruments, sources said. As per the RBI, the net present value of infusion made last year through zero-coupon bonds is much lower than face value as they were issued at discount, the sources added. These special securities with tenure of 10-15 years are non-interest bearing and valued at par. Such bonds usually are non-interest bearing and issued at a deep discount to the face value. So, the effective Tier 1 capital levels for the banks could be lower than the regulatory requirement. According to ...

Central Bank of India net rises 69% to Rs 279 cr in December quarter

Central Bank of India's net profit rose by 69.1 per cent year-on-year (YoY) to Rs 279 crore in the third quarter ended December (Q3FY22)

Central Bank Q3 profit jumps 69% at Rs 279 cr on core income growth

Central Bank of India on Friday reported 69 per cent jump in net profit at Rs 279 cr for the quarter ended December 2021 on the back of healthy growth in core income and fall in bad loan proportion.

Central Bank likely to be out of PCA framework in some three months

State-owned lender may also get capital infusion before the govt sets up privatisation.

Central Bank of India, U GRO tie up for co-lending to MSMEs

The disbursement will be to U GRO Capital's varied MSME segments under its programs - Pratham, Sanjeevani, Saathi, GRO MSME and machinery financing

Central Bank of India ink co-lending deal with fintech U GRO Capital

MSME lending fintech platform, U GRO Capital on Wednesday announced that it has signed a co-lending agreement with Central Bank of India.

Shares of IOB, Central Bank of India surge on reports of privatisation

Banks clarify no such negotiation or event taking place

Indian Overseas Bank, Central Bank of India clarify on privatisation buzz

The clarification comes a day after Centre's legislative agenda for Winter Session hinted at tabling of Banking Laws (Amendment) Bill 2021 bill for privatisation of two public sector banks

IOB, Central Bank of India surge up to 20% on privatisation buzz

IOB has surged 20 per cent to Rs 23.80, while CBI gained 15 per cent on the BSE in intra-day trade today.

Central Bank of India second quarter net profit jumps 55% to Rs 250 cr

Public sector Central Bank of India on Tuesday reported an over 55 per cent jump in net profit at Rs 250 crore for the quarter ended September. The lender had posted a net profit of Rs 161 crore during the same quarter of the previous fiscal. However, total income of the bank during July-September period of 2021-22 was down at Rs 6,503.39 crore, as against Rs 6,762.36 crore in the year-ago period, it said in a regulatory filing. Net interest income rose 5.99 per cent to Rs 2,495 crore, as against Rs 2,354 crore earlier. Net interest margin (NIM) improved from 3.21 per cent to 3.36 per cent on a year-on-year basis, registering an improvement of 15 basis points, it added. On the asset quality front, net non-performing assets (NPAs or bad loans) reduced to 4.51 per cent as of September 30, 2021, from 5.60 per cent by end of the same month last year. Gross NPAs moderated to 15.52 per cent from 17.36 per cent. Also, the bank's cost of deposit declined to 3.84 per cent from 4.45 per c

Nifty PSU sets sight on a new 52-wk high; 5 stocks that can rally up to 25%

After nine long years, the MACD on monthly chart for Indian Overseas Bank has crossed the zero line

All eyes on Central Bank, Indian Overseas Bank after UCO exits PCA

Central Bank in its annual report for 2020-21 said it was complying with the PCA framework norms meticulously

Central Bank to seek shareholders' nod to set off loss of Rs 18,724 cr

Central Bank of India will seek shareholders' approval in its ensuing annual general meeting next month to set off accumulated loss of over Rs 18,724 crore from the share premium account of the bank.

Nifty PSU Bank index gains 4%; Central Bank of India, IOB surge 20%

Shares of Central Bank of India and Indian Overseas Bank locked in 20% upper circuit on reports that the two financial institutions might be privatised.

Shares of IOB, Central Bank of India surge on privatisation reports

The PSU Bank Index closed marginally higher (0.36 per cent) at 2,500.6 on the NSE, as compared to the last Friday

Top headlines: Vaccination to be centralised, says PM; Sebi fines FT AMC

Business Standard brings you the day's top headlines

Net loss of Central Bank of India, tipped to be privatised, narrows in Q4

Central Bank of India stock closed at Rs 23 apiece on the BSE, a jump of 7.98 per cent over the previous close.