Central Bank of India announced Q3FY24 & 9MFY24 results: Financial Performance: - The Central Bank of India reported a significant increase in its net profit, which surged by 56.77% to Rs 718 crore for Q3FY24, compared to Q3FY23. - For 9MFY24, net profit rose sharply by 72.30% to Rs 1,742 crore. - The Bank's total income, including both interest and non-interest income for Q3FY24, improved by 19.68% to Rs 9,139 crore. - Net Interest Income (NII) for 9MFY24, grew by 14.45% to Rs 9,355 crore. Business Growth: - Total business expanded by 11.48%, reaching Rs 6,17,368 crore. - Total Deposits increased by 9.53% to Rs 3,77,722 crore. - Gross Advances climbed by 14.71% to Rs 2,39,646 crore on a YoY basis. - The Bank's Credit to Deposit (CD) Ratio improved to 63.60%, showing a growth of 283 basis points. Asset Quality: - Gross Non-Performing Assets (NPAs) ratio improved significantly to 4.50%, marking a reduction of 435 basis points. - Net NPA ratio saw an improvement too, reaching 1.27% which is an 82 basis points improvement. - The Bank's Provision Coverage Ratio increased to 93.73%, registering a 201 basis points improvement. Capital Adequacy & Liquidity: - The Bank's Capital Adequacy Ratio (CAR) as per Basel III norms improved to 14.74%, with a Common Equity Tier 1 ratio at 12.17%. - The Liquidity Coverage Ratio (LCR) was reported at 231.92%. Branch Network: - The Bank maintains a PAN India presence with a network of 4494 branches, with 65.29% situated in rural and semi-urban areas. Additionally, there are 4,083 ATMs and 11,207 BC Points, making a total of 19,784 touch-points across the country. Result PDF
Central Bank of India announced Q2FY24 results: I. Financial Results: 1. Total Business growth of 11.51% to Rs 6,02,284 crore in Q2FY24 2. Total Deposits increased by 8.21% to Rs 3,71,252 crore in Q2FY24. 3. Gross Advance rose by 17.26% to Rs 2,31,032 crore in Q2FY24. 4. Credit to Deposit (CD) Ratio improved to 62.43% in Q2FY24. 5. Gross NPA improved to 4.62% in Q2FY24. II. Profitability: 1. Net Profit grew by 90.25% to Rs 605 crore in Q2FY24. 2. Operating Profit increased by 13.47% to Rs 3,369 crore in Q2FY24. 3. Net Interest Income (NII) rose by 10.23% to Rs 3,028 crore in Q2FY24. 4. Return on Assets (ROA) improved to 0.62% in Q2FY24. 5. Return on Equity (ROE) improved to 2.31% in Q2FY24. III. Asset Quality: 1. Gross NPA improved to 4.62% in Q2FY24. 2. Net NPA improved to 1.64% in Q2FY24. 3. Provision Coverage Ratio improved to 92.54% in Q2FY24. IV. Capital Adequacy: 1. Total BASEL III Capital Adequacy Ratio improved to 14.82% in Q2FY24. 2. Common Equity Tier 1 ratio stood at 12.14% in Q2FY24. V. Branch Network: 1. Bank's pan-India presence with 4,489 branches, 4,044 ATMs, and 10,962 BC Points, serving customers across the country. Result PDF
Central Bank of India announced Q1FY24 results: Bank continued to show improved performance in all Business parameters on a sustainable basis for the 9th consecutive quarter. Total Business grew by 8.55% to Rs 5,83,261 crore. Total Deposits up by 6.05% to Rs 3,63,398 crore. Gross Advance increased by 12.95% to Rs 2,19,863 crore. Credit to Deposit (CD) Ratio improved to 60.75% registering an improvement of 371 bps, from 30th June 2022. Gross NPA improved to 4.95%, registering an improvement of 995 bps. Net NPA improved to 1.75%, registering an improvement of 218 bps. Provision Coverage Ratio improved to 92.23, registering an improvement of 562 bps. Net Profit up by 77.87% to Rs 418 crore. Operating Profit grew by 50.53% to Rs 1,838 crore. Net Interest Income (NII) increased by 48.27% to Rs 3,176 crore. Net Interest Margin (NIM) improved to 3.62%, registering a growth of 74 bps. Return on Assets (ROA) improved to 0.43%, registering an improvement of 16 bps. Return on Equity improved to 1.63%, vis-à-vis, 0.98% for the FY22. CRAR improved to 14.42% of which Tier I is 12.13%, registering an improvement of 109 bps. Result PDF
Central Bank of India announced Q4FY23 & FY23 results: Q4FY23: Net profit up by 84.19% to Rs 571 crore in Q4FY23 as against Rs 310 crore in Q4FY22. The same is up by 24.67% on a QoQ sequential basis. Operating profit has shown a growth of 16.27% on a YoY basis to Rs 2,108 crore for Q4FY23 as against Rs 1,813 crore for Q4FY22. The same has improved by 16.65% on a QoQ sequential basis. Net interest income (NII) grew by 45.35% on a YoY basis to Rs 3,513 crore in Q4FY23 as against Rs 2,417 crore for Q4FY22. The same is up by 6.94% on a sequential basis. Net revenue (interest income plus other income) for Q4FY23 improved by 33.44% from Rs 6,420 crore for Q4FY22 to Rs 8,567 crore for Q4FY23. Return on assets (ROA) improved to 0.61% for Q4FY23 as against 0.36% for Q4FY22. Return on equity (ROE) also improved to 2.27% for Q4FY23 as against 1.31 for Q3FY22 and 1.86% for Q3FY23 FY23: Net profit up by 51.39% to Rs 1,582 crore for FY23 as against Rs 1,045 crore for FY22 Operating profit has shown a growth of 19.89% to Rs 6,884 crore for FY23 as against Rs 5,742 crore for FY22 Net interest income (NII) grew by 23.19% to Rs 11,687 crore for FY23 as against Rs 9,487 crore for FY22 Cost to income ratio has shown an increase of 245 bps and was at 56.35% for FY23 Return on assets (ROA) improved to 0.44% for FY23 as against 0.30% for FY22 Return on equity (ROE) improved to 6.42% for FY23 as against 4.49% for FY22 Total business grew by 8.39% to Rs 5,77,075 crore, YoY basis Total deposits up by 4.85% to Rs 3,59,296 crore Gross advance increased by 14.79% to Rs 2,17,779 crore on YoY basis as against Rs 1,89,712 crore for FY22 Net advance increased by 20.69% to Rs 2,02,984 crore on YoY basis as against Rs 1,68,173 crore for FY22 Gross NPA improved to 8.44% with an improvement of 640 bps, on a YoY basis Net NPA improved to 1.77% with an improvement of 220 bps, on a YoY basis Provision coverage ratio stood at 92.48%, with an improvement of 579 bps, on a YoY basis Total BASEL III capital adequacy ratio improved to 14.12%, as compared to 13.84% on March 2022, with common equity tier 1 ratio of 12.11% on Q4FY23, registering an improvement of 28 bps. Result PDF
Conference Call with Central Bank of India Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Central Bank of India announced Q3FY23 results: Q3FY23 and 9MFY23: Bank continued to show improved performance in all business parameters on a sustainable basis for the 7th consecutive quarter. Total business grew by 6.54% to Rs 5,53,768 crore. Total deposits up by 2.12% to Rs 3,44,847 crore. Gross advance increased by 14.73% to Rs 2,08,921 crore. Credit to deposit (CD) ratio improved to 60.77%, registering an improvement of 674 bps. Gross NPA reduced to 8.85%, registering an improvement of 631 bps. Net NPA reduced to 2.09%, registering an improvement of 230 bps. Provision coverage ratio improved to 91.72, registering an improvement of 595 bps. Net Profit up by 64.16% to Rs 458 crore (quarter). Operating profit grew by 44.21% to Rs 1,807 crore. Net interest income (NII) increased by 19.93% to Rs 3,285 crore. Net interest margin (NIM) improved to 4.07% (quarter). Cost to income ratio improved to 57.02% on YoY basis. Return on assets improved to 0.50% (quarter). Return on equity improved to 1.86%. CRAR improved to 13.76%, of which Tier I is 11.92%. Result PDF
Central Bank of India announced Q2FY23 results: Bank exited the PCA framework of RBI after demonstrating sustained performance under all the parameters during the last 5 quarters. The performance has further improved during Q2FY23. Bank earned Net Profit of Rs 318 crore during the current quarter against Net Profit of Rs 250 crore in Q2 FY 21, with increase in net profit by 27.20%. Net Interest Income for the year has increased to Rs 2747 crores as compared to Rs 2206 crores for the corresponding quarter ended September 30, 2021, registering a YoY growth of Rs 541 crore (24.52%). Operating Profit for the quarter has increased from Rs 1445 crore as of September'21 to Rs 1748 crore in September'22 due to increasing in Total Interest Income by Rs 661 crore. Gross Advances increased by Rs 21428 crore (12.20%) on a YoY basis and stood at Rs 197022 crore in September 30, 2022, as against Rs 175594 crore on September 30, 2021. Net NPA has improved from 4.51% to 2.95 % for the same quarter last year. Net NPAs in absolute terms has also declined to Rs 5407 crore from Rs 7004 crores on YoY basis. PCR as at September 30, 2022, stands at 89.20 % as against 85.86 % for the same quarter last year registering an improvement of 334 bps on YoY basis. Result PDF
Central Bank of India Announced Q1FY23 Result : Bank earned Net Profit of Rs 235 crore during the current quarter against Net Profit of Rs 206 crore in June’21, with increase in net profit by 14.08%. Net Interest Income (NII) for the quarter improved to Rs 2142 crore as at the end of June’22 from Rs 2127 crore as at the end of June’21, registering a YoY growth of Rs 15 crore (0.71%). Operating Profit for the quarter has marginally declined from Rs 1232 crore as of June’21 to Rs 1221 crore in June’22 due to provision for revaluation of investments by Rs 132.80 crore, when compared to the same figure last year. Gross Advances increased by Rs 19419 crore (11.08%) on YoY basis and stood at Rs 194648 crore in June’22 as against Rs 175229 crore in June’21. Net NPA reduced from 5.09% to 3.93% on Y-o-Y basis registering an improvement of 116 bps. PCR as at June’22 stands at 86.61% as against 84.28% as at same quarter last year registering an improvement of 233 bps. Result PDF
Central Bank of India declares Q4FY22 result: Bank has turnaround and recorded Net Profit of Rs 1045 Crore (217.68%) during the year compared to Net Loss of Rs (888) Crore on YoY basis and Rs 310 Crore (11.11%) during Q4-FY’22 on QoQ basis. The Bank has earned Operating Profit of Rs 5742 Crore (25.40%) compared to Rs 4579 Crore on YoY basis and Rs 1813 crore (44.69%) during Q4 FY’22 on QoQ basis. CASA deposit has increased to Rs 172480 Crore from Rs 161926 Crore registering a growth of 6.52% on YoY basis. Share of CASA deposit in total deposit has also improved to 50.58% in Mar’22. Gross NPA reduced from 16.55% to 14.84 % on YoY basis registering an improvement of 171 bps and from 15.16% to 14.84% on QoQ basis registering an improvement of 32 bps. Net NPA reduced from 5.77% to 3.97% on YoY basis registering an improvement of 180 bps and from 4.39 % to 3.97 % on QoQ basis registering an improvement of 42 bps. Provision coverage ratio (PCR) improved from 82.54% for the F.Y. 2020- 21 to 86.69% for the F.Y. 2021-22 registering an improvement of 415 bps. Yield on Advances stood at 6.54 % for Q4’22 as against 4.98 % in Q4’21. Business per employee for the FY’ 22 has increased from Rs 15.60 Crore to Rs 17.15 Crore on (9.93%) YoY basis and during Q4-FY’22 it has improved to 17.52 crore from 16.87 crore (3.85%) on QoQ basis. Result PDF