Central Bank of India net profit rises 51.38% YOY to Rs 1582 crores.
Results at a Glance- FY ended 31st March 2023 vis-à-vis FY ended 31st March 2022.
Bank continued to show improved performance in all Business parameters on a sustainable basis for the 8th consecutive quarter.
Total Business grew by 8.39% to ₹ 577075 crore.
Total Deposits up by 4.85% to ₹ 359296 crore.
Gross Advance increased by 14.79% to ₹ 217779 crore.
Credit to Deposit (CD) Ratio improved to 60.86 % registering an improvement of
523 bps, from 31st March 2022.
Gross NPA improved to 8.44 %, registering an improvement of 640 bps.
Net NPA improved to 1.77 %, registering an improvement of 220 bps.
Provision Coverage Ratio improved to 92.48, registering an improvement of 579 bps.
Net Profit up by 51.38 % to ₹ 1582 crore.
Operating Profit grew by 19.89 % to ₹ 6884 crore.
Net Interest Income (NII) increased by 23.19 % to ₹ 11687 crore.
Net Interest Margin (NIM) improved to 3.64 %, registering a growth of 43 bps.
Return on Assets (ROA) improved to 0.44 %, registering an improvement of 14 bps.
Return on Equity improved to 6.43%, vis-à-vis, 4.49% for the FY 2022.
CRAR improved to 14.12 % of which Tier I is 12.11 %, registering an improvement of 28 bps.
Profitability (Year Ended March 31st, 2023)
Net Profit up by 84.19 % to ₹ 571 crore in Q4FY23 against ₹ 310 crore in Q4FY22. The same is up by 24.67 % on a Q-o-Q sequential basis.
Operating Profit has shown a growth of 16.27 % on Y-o-Y basis to ₹ 2108 crore for Q4FY23 as against ₹1813 crore for Q4FY22. The same has improved by 16.65 % on a sequential basis.
Net Interest Income (NII) grew by 45.35 % on Y-o-Y basis to ₹ 3513 crore in Q4FY23 as against ₹ 2417 crore for Q4FY22. The same is up by 6.94 % on a sequential basis.
Net Revenue (Interest Income plus other Income) for Q4FY23 improved by
33.44 % from ₹ 6420 crore for Q4FY22 to ₹ 8567 crore for Q4FY23.
Return on Assets (ROA) improved to 0.61% for Q4FY23 as against 0.36% for Q4FY22.
Return on Equity (ROE) also improved to 2.27 % for Q4FY23 as against 1.31 for Q3FY22 and 1.86 % for Q3FY23.
Profitability (Year Ended March 31st 2023)
Net Profit up by 51.39 % to ₹ 1582 crore for the year ended March 31st 2023 against ₹ 1045 crore for the same period of preceding year.
Operating Profit has shown a growth of 19.89 % to ₹ 6884 crore for the year ended March 31st 2023 against ₹ 5742 crore for the same period of preceding year.
Net Interest Income (NII) grew by 23.19 % to ₹ 11687 crore for year ended March 31st 2023 as against ₹ 9487 crore for the same period of preceding year.
Cost to Income Ratio has shown an increase of 245 bps and was at 56.35 % for the year ended March 31st 2023.
Return on Assets (ROA) improved to 0.44 % for year ended March 31st 2023 against 0.30 % for the same period of preceding year.
Return on Equity (ROE) improved to 6.42 % for year ended March 31st 2023 against 4.49% for the same period of preceding year.
Business Highlights
Total Business grew by 8.39 % to ₹ 577075 crore, Y-o-Y basis.
Total Deposits up by 4.85 % to ₹ 359296 crore.
Gross Advance increased by 14.79 % to ₹ 217779 crore on Y-o-Y basis as against ₹ 189712 crore for the same period of preceding year.
Net Advance increased by 20.69 % to ₹ 202984 crore on Y-o-Y basis as against ₹ 168173 crore for the same period of preceding year.
RAM (Retail, Agriculture & MSME) business grew by 15.79%. The individual sector wise growth stood at 20.10% (₹ 62726 crore), 8.99 % (₹ 42110 core) & 16.87% (₹ 39899 crore), respectively.
Business per employee increased to ₹ 18.70 crore as against ₹ 17.52 crore for the same period of preceding year.
Asset Quality
Gross NPA improved to 8.44 % with an improvement of 640 bps, on Y-o-Y basis.
Net NPA improved to 1.77 % with an improvement of 220 bps, on Y-o-Y basis.
Provision Coverage Ratio stood at 92.48 %, with an improvement of 579 bps, on Y-o-Y basis.
Capital Adequacy
Total BASEL III Capital Adequacy Ratio improved to 14.12 %, as compared to 13.84 % on Mar’22, with Common Equity Tier 1 ratio of 12.11 % on Q4FY23, registering an improvement of 28 bps.
Digital Banking
The Digital transaction count also registered a growth of 37.39 %, in Internet Banking, Mobile Banking, IMPS and UPI transactions during FY 2022-23, against corresponding period of FY 2021-22.
Branch Segmentation
Bank is having pan India presence with network of 4493 branches with 65.21 % (2930 branches) in rural & semi-urban areas, 3752 ATMs and 9959 BC Points with total 18204 Touch Points as on March ’23.
