BANKS
Central Bank of India Q3 net rises 57% to Rs 718 crore
Central Bank of India’s gross NPAs fell to 4.50% as of 31 December, from 8.85% a year earlier; net NPAs declined to 1.27% from 2.09%.
Central Bank of India’s gross NPAs fell to 4.50% as of 31 December, from 8.85% a year earlier; net NPAs declined to 1.27% from 2.09%.
Central Bank of India posted a 57% jump in its net profit to Rs 718 crore in the fiscal third quarter ended December compared to Rs 458 crore a year ago.
The state-owned bank’s total income grew to Rs 9,139 crore during the December quarter of 2023 against Rs 7,636 crore in the same period last fiscal year.
Net interest income (NII) fell to Rs 3,152 crore from Rs 3,285 crore in the same period a year ago.
The bank's gross non-performing assets (NPAs) fell to 4.50% of the total loans as of 31 December 2023, from 8.85% a year earlier.
Net NPAs also fell to 1.27% in Q3 of FY24 from 2.09% at the end of the third quarter of the previous fiscal year.
On 4 January, Central Bank of India said its advances grew 14.9% to Rs 2.4 lakh crore for the quarter ended December 2023. A year-ago, advances stood at Rs 2.08 lakh crore.
