Centurion Bank operating profit zooms

Chennai, July 23 (UNI) Centurion Bank of Punjab today announced its operating profit for the quarter at Rs 908 million, a growth of 79 per cent over the same period last year.

Profit before tax grew 66 per cent to Rs 525 million while the net profit stood at Rs 330 million, a sequential increase of 18 per cent compared to the previous quarter, a bank release here said.

The bank demonstrated strong growth in all its businesses despite the fact the first quarter of the fiscal was traditionally slow for off-take of banking and financial services.

The growth in advances of 60 per cent and in deposits of 55 per cent was substantially higher than that witnessed by the sector as a whole.

UNI