Central Bank Q2 net profit rises to ₹250 crore

Central Bank of India has registered 55.28% growth in net profit to ₹250 croreOperating profit improved 1.08 % y-o-y to ₹1401 crore. CASA share in total Core Deposits has improved from 47.72% to 49. 79 % on Y-o- Y basis registering an improvement of 207 bps. Net NPA reduced from 5.60% to 4. 51% on Y-o- Y basis registering an improvement of 109 bps, the bank said in a filing.

Provision coverage ratio ( PCR) improved from 82. 24% to 85. 86% on Y- o- Y basis registering an improvement of 362 bps.

Net Interest Income (NII) has improved from ₹ 2354 crore to ₹ 2495 crore up 5 .99 % on Y- o- Y basis

Net Interest Margin (NIM) has improved from 3.21%to 3.36% on Y- o- Y basis registering an improvement of 15 bps.

The bank’s Gross NPA reduced from 17.36 % to 15.52% on Y-o- Y basis registering an improvement of 184 bps.

Net NPA reduced from 5. 60% to 4.51% on Y-o- Y basis registering an improvement of 109 bps.

Provision Coverage Ratio ( PCR) improved from 82.24% to 85. 86 % on Y- o- Y basis.

It said its slippage ratio stood at 1. 45 % as against 0.08% during Q2’ 21, as there was moratorium granted by RBI due to COVID- 19 pandemic.

“In Q1’22 it was 0.95 %. Slippage ratio during the quarter increased due to slippage of two corporate accounts of ₹ 1150 crore. Had these accounts were not slipped during the quarter then slippage ratio for Q2’22 would have been 0.67%,” the bank said.

Bank’s net worth has improved from ₹19033.59 crore as of September 30, 2020 to ₹23185 .66 crore as on September 30, 2021 on standalone basis.

Total business stood at ₹512094 crore as on September 30, 2021, as against ₹50,0737 crore registering a growth of ₹1,1357 crore , up 2.27 % on Y- o- Y basis.

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