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Central Bank of India's net profit rises 28% on non-core income growth

NII falls 4% as rise in yield on advances; margins contract

Central Bank of India
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As a result, the net interest margin fell 41 basis points Y-o-Y to 3.17 per cent for the January-March period

Anupreksha Jain Mumbai
State-owned Central Bank of India posted a 28.13 per cent year-on-year (Y-o-Y) rise in its profit for the quarter ended March, at Rs 1,033.6 crore compared to Rs 807.3 crore a year earlier, on the back of a rise in non-interest income and a fall in provisions.
 
Non-interest income rose 33.19 per cent to Rs 1,814 crore, with fee income growing 34.16 per cent to Rs 597 crore and treasury income rising by 12.05 per cent to Rs 409 crore.
 
A fall in provisions from Rs 1,257 crore to Rs 807 crore on a Y-o-Y basis also aided the bank’s