Business Standard

Central Bank of India

Go First heads towards liquidation after failed EaseMyTrip, SpiceJet bids

Go First owes creditors - Central Bank of India, Bank of Baroda, and IDBI Bank - around Rs 6,200 crore

Go First heads towards liquidation after failed EaseMyTrip, SpiceJet bids
Updated On : 17 Jul 2024 | 12:15 PM IST

Stocks to Watch, June 18: Vodafone Idea, IndiGo, LIC, Pidilite Industries

Asia-Pacific markets were buzzing ahead of the Reserve Bank of Australia's rate decision

Stocks to Watch, June 18: Vodafone Idea, IndiGo, LIC, Pidilite Industries
Updated On : 18 Jun 2024 | 7:28 AM IST

RBI puts Rs 1.45 cr fine on Central Bank of India for non-compliance order

The Reserve Bank on Friday said it has imposed a penalty of Rs 1.45 crore on the Central Bank of India for non-compliance with certain directions related to 'loans and advances' and 'customer protection'. The RBI had conducted a statutory inspection for Supervisory Evaluation (ISE 2022) of the Central Bank of India with reference to its financial position as of March 31, 2022. A notice was issued to the bank, advising it to show cause as to why a penalty should not be imposed on it for its failure to comply with the directions, the RBI said. After considering the bank's response, the RBI found that charges against the bank were sustained. The bank sanctioned a working capital demand loan to a Corporation against amounts receivable from the government by way of subsidies. It also failed to credit (shadow reversal) the amount involved in a few instances of unauthorised electronic transactions to the customer's account within the stipulated time. In another release, the RBI said a .

RBI puts Rs 1.45 cr fine on Central Bank of India for non-compliance order
Updated On : 14 Jun 2024 | 7:08 PM IST

Rupee to rely on RBI's help amid foreign outflows post PM Modi's narrow win

Non-deliverable forwards indicate the rupee will open largely unchanged from 83.53 in the previous session

Rupee to rely on RBI's help amid foreign outflows post PM Modi's narrow win
Updated On : 05 Jun 2024 | 9:18 AM IST

Central Bank of India Q4FY24 results: Profit jumps 41% at 807.34 crore

Central Bank of India standalone Q4FY24 results: Gross non-performing assets (NPA) ratio of the bank remained consistent at 4.50%, same as the last quarter

Central Bank of India Q4FY24 results: Profit jumps 41% at 807.34 crore
Updated On : 30 Apr 2024 | 2:44 PM IST

Central Bank, JC Flowers ARC join race to bid for Future Enterprises

Bidders interested in two insurance joint ventures

Central Bank, JC Flowers ARC join race to bid for Future Enterprises
Updated On : 08 Feb 2024 | 5:40 PM IST

Stocks to Watch today: Zee, Cipla, MRPL, Axis Bank, Medi Assist, JSW Group

Stocks to watch on Tuesday, January 23, 2024: Zee Entertainment in focus as Sony India calls-off merger; Axis Bank, Havells, JSW Energy, L&T Housing Finance, RECL and Tata Elxsi to Q3 results today.

Stocks to Watch today: Zee, Cipla, MRPL, Axis Bank, Medi Assist, JSW Group
Updated On : 23 Jan 2024 | 9:49 AM IST

Central Bank of India plans offer for sale to reduce govt's stake

It has shown preference for the OFS route to avoid dilution of its equity capital base while increasing the public float of shares

Central Bank of India plans offer for sale to reduce govt's stake
Updated On : 22 Jan 2024 | 7:57 PM IST

Central Bank of India Q3 results: Profit jumps 57% to Rs 718 crore

The state-owned Central Bank of India on Friday posted a 57 per cent increase in its profit at Rs 718 crore in the third quarter ended December 2023. The bank had earned a net profit of Rs 458 crore in the same quarter a year ago. Total income increased to Rs 9,139 crore during the quarter under review against Rs 7,636 crore in the same period last year, the Central Bank of India said in a regulatory filing. However, the net interest income of the bank declined to Rs 3,152 crore during the quarter compared to Rs 3,285 crore in the same period a year ago. Bank's gross Non-Performing Assets (NPAs) declined to 4.50 per cent of the total loans at the end of December 2023 from 8.85 per cent a year ago. Net NPAs or bad loans also came down to 1.27 per cent from 2.09 per cent at the end of the third quarter of the previous fiscal.

Central Bank of India Q3 results: Profit jumps 57% to Rs 718 crore
Updated On : 19 Jan 2024 | 11:30 PM IST

Central Bank extends festival offer, aims increasing retail asset book

State-owned Central Bank of India has extended its festival offer for three months till March 31 with a view to increasing its retail asset book. Earlier, the offer was till December 31, 2023. The bank is offering low interest rate, waiver in processing fee and other facilities for customers during this period, Central Bank of India general manager (retail assets) Vivek Kumar said. Cent Grih Laxmi Scheme and Cent Business Scheme are offering the lowest rate of interest across the industry starting from 8.35 per cent. Last week, the bank also held meeting with major real estate developers across Delhi-NCR. About 150 Direct Sales Agents (DSAs) and 50 renowned builders across the region joined the event. He also said that interest rates on most of the products have peaked and there is hardly any scope for further hike. Rates on the liability side have also more or less saturated and liquidity position is within manageable range, he said. On the co-lending model, he said the bank ha

Central Bank extends festival offer, aims increasing retail asset book
Updated On : 14 Jan 2024 | 5:33 PM IST

Central Bank of India's loans grow 14.9% to Rs 2.4 trillion in Q3 FY24

The Mumbai-based public sector bank's deposits expanded by 9.52 per cent Y-o-Y to Rs 3.77 trillion at the end of December 2023 from Rs 3.44 trillion a year ago

Central Bank of India's loans grow 14.9% to Rs 2.4 trillion in Q3 FY24
Updated On : 04 Jan 2024 | 4:22 PM IST

Central Bank of India's gross advances rise to Rs 2.4 trn, up 14.91% Y-o-Y

The bank also registered an increase in the rate of deposit growth at 9.52% (Y-o-Y). While its deposit base stood at Rs 3.4 trillion in Q3FY23, it expanded to 3.7 trillion in Q3FY24

Central Bank of India's gross advances rise to Rs 2.4 trn, up 14.91% Y-o-Y
Updated On : 04 Jan 2024 | 3:59 PM IST

Govt may disinvest 5-10% in select PSBs to realise share market gains

As things stand, the govt has over 80% ownership in six banks: Bank of India, Indian Overseas Bank, Punjab & Sind Bank, Bank of Maharashtra, Central Bank of India, and Uco Bank

Govt may disinvest 5-10% in select PSBs to realise share market gains
Updated On : 14 Nov 2023 | 9:36 AM IST

Rs 2,000 crore loans to Go First are now NPA: Central Bank of India

The public sector lender's exposure, including government-guaranteed emergency credit to the ailing airline, amounts to about Rs 2,000 crore

Rs 2,000 crore loans to Go First are now NPA: Central Bank of India
Updated On : 22 Oct 2023 | 9:38 PM IST

Central Bank of India Q2 results: Net profit jumps 90% to Rs 605 crore

State-owned Central Bank of India on Friday reported a 90 per cent jump in net profit to Rs 605 crore for the September quarter on a healthy growth core income and a fall in bad loans. The bank had posted a net profit of Rs 318 crore in the year-ago period. During the quarter, total income rose to Rs 8,412 crore from Rs 7,065 crore a year ago, Central Bank of India said in a regulatory filing. Interest income during the September quarter grew to Rs 7,351 crore as against Rs 6,155 crore in the year-ago period. Net Interest Income (NII) grew 10.23 per cent to Rs 3,028 crore in the second quarter of the current fiscal as against Rs 2,747 crore a year ago. Gross non-performing assets (NPAs) reduced to 4.62 per cent of gross advances as of September 30. Net NPAs were also brought down to 1.64 per cent as compared to 2.95 per cent in the same period previous fiscal. As a result, provision and contingencies declined to Rs 967 crore as against Rs 1,125 crore in the same period a year ..

Central Bank of India Q2 results: Net profit jumps 90% to Rs 605 crore
Updated On : 20 Oct 2023 | 8:04 PM IST

Central Bank raises Rs 1,500 cr via Tier-II bonds to fund biz growth

The issue just managed to scrape through as the bank received bids for Rs 1,516 crore from investors and it accepted bids for Rs 1,500 crore

Central Bank raises Rs 1,500 cr via Tier-II bonds to fund biz growth
Updated On : 31 Aug 2023 | 11:10 PM IST

Public sector banks' lending to state govt units down 20% in FY23

The moderation in lending follows the Reserve Bank of India's missive to lenders for not doing enough due diligence and monitoring the end use of funds

Public sector banks' lending to state govt units down 20% in FY23
Updated On : 25 Jul 2023 | 7:20 PM IST

Go First loan won't cause losses, hopeful about airline: Central Bank execs

State-owned lender maintains close to 60% provision against loans to no-frills airline

Go First loan won't cause losses, hopeful about airline: Central Bank execs
Updated On : 18 Jul 2023 | 6:29 PM IST

Central Bank Q1 net up 77.87% at Rs 418 cr, credit costs decline sharply

Sequentially, the public sector lender's profit was down 26.8%

Central Bank Q1 net up 77.87% at Rs 418 cr, credit costs decline sharply
Updated On : 17 Jul 2023 | 4:27 PM IST

Central Bank Q1 profit surges 78% to Rs 418 cr due to decline in bad loans

State-owned Central Bank of India on Monday reported a 78 per cent rise in net profit at Rs 418 crore for the June quarter due to decline in bad loans and increase in interest income. The Mumbai-based lender had posted a net profit of Rs 235 crore in the year-ago period. Total income during the quarter under review increased to Rs 8,184 crore from Rs 6,357 crore in FY23, Central Bank of India said in a regulatory filing. Interest earned by the bank grew to Rs 7,225 crore over Rs 5,527 crore in the June quarter a year ago. Net Interest Income of the bank increased by 48 per cent to Rs 3,176 crore in Q1 FY24, it said. The bank's asset quality showed improvement as gross Non-Performing Assets (NPAs) declined to 4.95 per cent of gross advances by the end of June 2023, from 14.90 per cent as of June 2022. Similarly, net NPAs or bad loans eased to 1.75 per cent as against 3.93 per cent a year ago. Net Interest Margin (NIM) of the bank improved to 3.62 per cent, registering a growth of

Central Bank Q1 profit surges 78% to Rs 418 cr due to decline in bad loans
Updated On : 17 Jul 2023 | 3:27 PM IST