Central Bank of India trades jubilantly as RBI removes bank from PCA framework
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Central Bank of India is currently trading at Rs. 21.80, up by 1.45 points or 7.13% from its previous closing of Rs. 20.35 on the BSE.
The scrip opened at Rs. 23.50 and has touched a high and low of Rs. 23.50 and Rs. 21.55 respectively. So far 6014649 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 25.15 on 30-Sep-2021 and a 52 week low of Rs. 16.10 on 16-Jun-2022.
Last one week high and low of the scrip stood at Rs. 23.50 and Rs. 19.90 respectively. The current market cap of the company is Rs. 18967.85 crore.
The promoters holding in the company stood at 93.08%, while Institutions and Non-Institutions held 2.90% and 4.02% respectively.
Central Bank of India has been removed from the Prompt Corrective Action (PCA) framework by Reserve Bank of India (RBI), subject to certain conditions and continuous monitoring. As per the assessed figures of the bank for the year ended March 31, 2022, the bank is not in breach of the PCA parameters. Further, the bank has provided a written commitment that it would comply with the norms of minimum regulatory capital, net non-performing asset and leverage ratio on an ongoing basis.
The bank was the only bank under the RBI's PCA framework. It was put under the PCA framework in June 2017 due to its high net non-performing assets (NPAs) and low Return on Assets. PCA is triggered when banks breach certain regulatory requirements such as return on asset, minimum capital and quantum of the non-performing assets including on lending, management compensation and directors' fees.
Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.
