State-run lender, Central Bank of India has raised Rs 500 crore of TIER II Capital on December 21, 2011 on private placement basis. The bank has raised the funds in terms of approval in the meeting of the board of directors of the bank held on July 29, 2011.
Recently, Central Bank of India had planned not to claim pre-payment penalties on floating rate housing loans, irrespective of the source of funds of the borrowers with immediate effect as per the Reserve Bank of India’s suggestion.
The bank’s net profit for the second quarter ended September 30, 2011 of the current fiscal has declined 35.62% at Rs 244.25 crore as compared to Rs 379.38 crore for the corresponding quarter of the last year. The bank’s total income has surged 34.56% at Rs 5234.05 crore for the quarter under review as compared to Rs 3889.84 crore for the second quarter of the previous year.
