CBP's bus to touch Rs 30,000 cr in 2007-08 after L

Kolkata, Apr 25 (UNI) Centurion Bank of Punjab's(CBP) total business will touch Rs 30,000 crore in 2007-08 following the acquisition of Lord Krishna Bank, which is awaiting RBI's approval.

Speaking at a press conference here today, CBP Managing Director&CEO Shailendra Bhandari said the bank's targetted business, worth Rs 30,000, would include both advances and deposits. In 2006-07, the banks total business was Rs 26,000 crore(unaudited).

''The acquisition of Kochi-based Lord Krishna Bank would be completed in the current quarter. However, we are awaiting approval of the apex bank which has been delayed by a court case, '' Mr Bhandari said.

''With this acquisition, our branch network will expand to 403 in 180 cities after the acquisition. Currently, the number of branches of this bank are 279 in 143 cities,'' he said adding that the inorganic route, through merger and acquisitions, would contribute substantially to the growth of the bank in future.

Speaking about the Capital Adequacy Ratio(CAR) of the bank, he said CAR was 12 per cent and the bank would also raise Rs 700 crore in the current fiscal.

The Non-Performing Assets(NPA) of the bank stood at 1.2 per cent till December,2006.

UNI