Centurion Bank of Punjab clocks profit of Rs 330 mn in Q1

Mumbai, July 23 (UNI) Centurion Bank of Punjab posted a net profit of 15 per cent at Rs 330 million for the quarter ended June 30 this year.

The operating profit and the profit before tax of the Bank demonstrated growth rates of 79 per cent and 66 per cent respectievly as compared to those in the same period last year.

During the quarter, the Bank raised Rs 1 billion through a private placement of debt qualifying as upper tier II capital. The deposits at Rs 160,994 million grew by 55 per cent compared to the corresponding period last year.

The Bank's advances towards the SME sector grew by 150 per cent.

Within the banks retail asset portfolio, mortgages and personal loan grew by 134 per cent and 154 per cent respectievly.

UNI