Result

Centurion Bank of Punjab recorded a 7.6 per cent rise in its net profit to Rs 28.01 crore in the fourth quarter ended March 31, 2007 against Rs 26.04 crore in the corresponding quarter previous year due to a strong growth in advances. The bank experienced a 72-per cent growth in advances to Rs 11,221 crore, and 58 per cent rise in deposits to Rs 14,863 crore during the quarter. The net interest margin stood at 4.38 per cent (5.07 per cent) in the quarter due to rising interest rates. During 2006-07, the net profit was up by 38 per cent to Rs 121.38 crore against Rs 87.8 crore in the previous year. Catholic Syrian Bank has posted a 210-per cent increase in the net profit to Rs 19.07 crore for 2006-07, compared with Rs 6.14 crore the previous year. The board of directors has recommended a dividend of 15 per cent. Net NPAs were reduced to 1.98 per cent (2.78 per cent). The bank also recorded capital adequacy ratio of 9.58 per cent against the RBI-stipulated norm of nine per cent. Total deposits grew to Rs 4,748.60 crore (Rs 4,288.85 crore), while advances rose to Rs 3,012.64 crore (Rs 2,694.87 crore).