Mumbai, Oct 09: Centurion Bank has posted a net profit of Rs 1.94 crore for the second quarter ended September 30, 2003 as against net loss of Rs 13.40 crore in the same period last fiscal. The total income for the reporting quarter rose to Rs 104.19 crore from Rs 87.97 crore in the July-September 2002, its chairman and managing director V Janakiraman said in a release here on Wednesday.

The net profit and total income for the six months ended September 2003 stood at Rs 2.34 crore (net loss of Rs 17.06 crore) and Rs 198.47 crore (Rs 211.39 crore) respectively.

The Panaji-registered bank's net interest income for the quarter was higher at Rs 27.48 crore as against Rs 24.43 crore in the corresponding quarter of FY-03, Janakiraman said.
The increase in the net interest income has been achieved through reduction in interest cost on deposits and the policy of shifting from lower yielding corporate loans to higher yielding retail assets, the release said. Bureau Report