Central Bank of India up 15 per cent post block deals

PSB Central Bank of India spiked up more than 15 per cent as 0.8 per cent equity of the bank was traded in two block deals.

The state-owned bank surged to five month high to trade at Rs. 87.50 per share. The details about buyers and sellers were not immediately known.

Central Bank registered loss of Rs. 605.70 crore in the December quarter. The banks total income dipped to Rs. 6,589.32 crore during the quarter as against Rs. 6,787.87 crore in the year-ago period. The bank’s NII stood at Rs. 1,978 crore, up 31.34 per cent on year-on-year basis. Net Interest Margin improved to 3.06 per cent.

The bank has pan India presence with network of 4,715 branches with 4,957 ATMs as on December 31, 2017.

Meanwhile, the stock of Central Bank closed at Rs. 87.10 per share, up Rs. 11.75 or up by 15.59 per cent on Thursday.