Central Bank of India Q2 results: Net profit rises 51% to Rs 913 crore
Net Interest Income (NII) increased by 13% to Rs 3,410 crore from Rs 3,021 crore year-on-year, the bank said in a regulatory filing.
Central Bank of India Q2 results: Net profit rises 51% to Rs 913 crore
The Central Bank of India has announced the results for the second quarter of FY25. The bank's net profit surged by 51% to Rs 912.8 crore, compared to Rs 605.4 crore in the same quarter last year.
Net Interest Income (NII) increased by 13% to Rs 3,410 crore from Rs 3,021 crore year-on-year, the bank said in a regulatory filing. In terms of asset quality, Gross Non-Performing Assets (NPA) stood at 4.59%, reflecting a 3 basis point improvement year-on-year. The Provision Coverage Ratio reached 96.31%, an increase of 377 basis points.
Total business for the bank grew by 7.07% to Rs 644,858 crore, compared to Rs 602,284 crore a year earlier. Total deposits rose by 5.57% to Rs 391,914 crore, while CASA deposits increased by Rs 8,432 crore to Rs 191,270 crore. This reflects a year-on-year growth of 4.61%.
Read Also : Urgo Capital And United States International Development Finance Corporation (DFC)CASA deposits now account for 48.93% of total deposits. Gross advances increased by 9.48% to Rs 252,944 crore from Rs 231,032 crore year-on-year. The Retail, Agriculture, and MSME (RAM) segments grew significantly, with the RAM business up by 19.95%.
Retail loans increased by 15.48%, agricultural loans by 17.34%, and MSME loans by 29.45%. The bank's Return on Assets (ROA) improved to 0.85%, up from 0.62% in Q2 FY-24.
The bank's total Basel III Capital Adequacy Ratio strengthened to 16.27%, with a Common Equity Tier 1 ratio of 14.01%, reflecting a 145 basis point improvement.
Read Also : Karur Vysya Bank announced its Q2 results today
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