Central Bank of India reported that its net profit zoomed 110.29% to Rs 879.94 crore in Q1 FY25 as against Rs 418.43 crore in Q1 FY24.
Total income rose 16.08% year on year (YoY) to Rs 9,499.92 crore in the quarter ended 30 June 2024.Net interest income (NII) grew by 11.71% YoY to Rs 3,548 crore in June 2024 quarter. Net Interest Margin (NIM) rose to 3.57% during the quarter as against 3.43% in Q1 FY24.
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Operating profit increased 8.43% to Rs 1,993 crore in Q1 FY25 as against Rs 1,838 crore in corresponding quarter last year. Slippage ratio stood at 0.34% in Q1 FY25 as against 0.62% in Q1 FY24.
Total deposits rose 5.93% YoY to Rs 3,84,949 crore in first quarter of FY25. Gross advances increased by 14% YoY to Rs 2,50,615 crore in June 2024 quarter.
The bank's CASA deposits increased by 4.87% to Rs 1,88,863 crore in Q1 FY25 as against Rs 1,80,091 crore in Q1 FY24.
Return on assets (ROA) improved to 0.82% for the quarter ended June 2024, registering an improvement of 39 bps, over the same quarter of last year.
Return on equity (ROE) improved to 3.14% for the June 2024 quarter, up 151 bps YoY.
The bank's gross non-performing assets (NPAs) improved by 41 bps YoY to 4.54% in Q1 FY25. Net NPA improved to 0.73% in Q1 FY25, registering an improvement of 102 bps YoY. Provision coverage ratio (PCR) improved by 394 bps on YoY basis to 96.17% YoY in Q1 FY25.
Total BASEL III Capital Adequacy Ratio improved to 15.68%, as on June 2024, as against 14.42% on June 2023, up 126 bps YoY.
Central Bank of India is engaged in providing banking and financial services with wide range of products and services to individuals, commercial enterprises, large corporates, public bodies and institutional customers. Bank is having pan India presence with network of 4517 branches with 65.20% (2945 branches) in rural & semi-urban areas, 4085 ATMs and 11895 BC Points with total 20497 Touch Points as on June 2024.
The scrip fell 1.32% to currently trade at Rs 64.17 on the BSE.
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