State owned Central Bank of India’s net profits up by 14.08% at Rupees 235 crores
MAJOR HIGHLIGHTS-Q1-FY’23 Bank earned Net Profit of ₹ 235 crore during the current quarter against Net Profit of ₹ 206 crore in June’21, with increase in net profit by 14.08%. Net Interest Income (NII) for the quarter improved to ₹ 2142 crore as at the end of June’22 from ₹ 2127 crore as at the end of June’21, registering a Y-o-Y growth of ₹ 15 crore (0.71%). Operating Profit for the quarter has marginally declined from ₹ 1232 crore as of June’21 to ₹ 1221 crore in June’22 due to provision for revaluation of investments by ₹132.80 crore, when compared to the same figure last year.
Gross Advances increased by ₹ 19419 crore (11.08%) on Y-o-Y basis and stood at ₹ 194648 crore in June’22 as against ₹ 175229 crore in June’21. Net NPA reduced from 5.09% to 3.93% on Y-o-Y basis registering an improvement of 116 bps. PCR as at June’22 stands at 86.61 % as against 84.28 % as at same quarter last year registering an improvement of 233 bps.
Total Business of the Bank, stood at ₹ 537309 crore as on June’22 as against ₹ 506712 crore registering growth of ₹ 30597 crore(6.04%) on Y-o-Y basis. Total Deposits have increased by ₹ 11178 crore and stood at ₹ 342661 crore as on June’22 as compared to ₹ 331483 crore as at the end of June’21 reflecting an increase of 3.37% on Y o Y basis.
CASA Deposits have increased by ₹ 11864 crore to ₹ 174562 crore reflecting Y-o-Y growth of 7.29%. CASA share in Total Deposits has improved from 49.20% as at the end of June 2021 to 51.15% as at the end of June’22. Gross NPA reduced from 15.92% to 14.90 % on Y-o-Y basis registering an improvement of 102 bps. Net NPA reduced from 5.09% to 3.93% on Y-o-Y basis registering an improvement of 116 bps. PCR as at June 30, 2022 stands at 86.61 % as against 84.28 % as at same quarter last year registering an improvement of 233 bps.
