Hot Pursuit     17-Jul-23
Central Bank of India jumps after Q1 PAT climbs 78% YoY
Central Bank of India rallied 5.02% to Rs 31.95 after the bank's standalone net profit jumped 78.22% to Rs 418.43 crore on 28.73% increase in total income to Rs 8,183.92 crore in Q1 FY24 over Q1 FY23.
Net interest income (NII) grew by 48.27% YoY to Rs 3,176 crore in Q1 FY24. While net interest margin (NIM) improved by 74 bps to 3.62% YoY in Q1 FY24.

Operating profit increased 50.53% to Rs 1,838 crore in Q1 FY24 as against Rs 1,221 crore in corresponding quarter last year. Slippage ratio stood at 0.53% YoY in Q1 FY24.

Total deposits rose 6.05% to Rs 3,63,398 crore in Q1 FY24 as compared to Rs 3,42,661 crore in Q1 FY23. Gross Advances increased by 12.95% to Rs 2,19,863 crore in Q1 FY24 as compared to Rs 1,96,648 crore in Q1 FY23.

The bank's CASA deposits increased by 3.17% to Rs 1,80,091 crore in Q1 FY24 as against Rs 1,74,562 crore in Q1 FY23. While CASA ratio reduced by 139 bps to 49.76% in Q1 FY24 as compared to 51.15% in same quarter last year.

Return on assets (ROA) rose to 0.43% in Q1 FY24 as compared to 0.27% in Q1 FY23. Return on equity improved to 1.63% in Q1 FY24 as against 0.98% in Q1 FY23.

Bank's gross non-performing assets (NPAs) improved by 995 bps to 4.95% YoY in Q1 FY24. Net NPA rose by 218 bps to 1.75% YoY in Q1 FY24. Provision coverage ratio (PCR) improved by 562 bps to 92.23%YoY in Q1 FY24.

Total BASEL III Capital Adequacy Ratio improved to 14.42 %, as on June 2023, as compared to 13.33 % on June 2022, with Common Equity Tier 1 ratio of 12.13 % on Q1FY24, registering an improvement of 109 bps.

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.

Previous News
  Central Bank of India to convene board meeting
 ( Corporate News - 25-Apr-24   10:34 )
  Central Bank of India AGM scheduled
 ( Corporate News - 06-Jun-24   17:35 )
  Central Bank of India to convene board meeting
 ( Corporate News - 21-Dec-22   10:01 )
  Central Bank of India consolidated net profit rises 72.68% in the March 2023 quarter
 ( Results - Announcements 02-May-23   07:38 )
  Central Bank of India spurts 2.45%, gains for third straight session
 ( Hot Pursuit - 05-Sep-23   13:05 )
  Volumes spurt at Shriram Finance Ltd counter
 ( Hot Pursuit - 19-Jun-23   11:00 )
  Central Bank of India soars 1.46%, rises for fifth straight session
 ( Hot Pursuit - 06-Jul-23   13:01 )
  Central Bank of India to declare Quarterly Result
 ( Corporate News - 10-Jan-23   12:56 )
  Central Bank of India gains as board to mull fund raising on Dec 26
 ( Hot Pursuit - 21-Dec-22   09:18 )
  Central Bank of India declines after RBI imposes monetary penalty
 ( Hot Pursuit - 25-Apr-22   09:22 )
  Board of Central Bank of India to consider fund raising via Tier II bonds issuance
 ( Corporate News - 20-Dec-22   19:29 )
Other Stories
  Jnk India bags order from Reliance Inds
  15-Jun-24   16:54
  CRISIL reaffirms rating of Gujarat Fluorochemicals with 'stable' outlook
  15-Jun-24   16:39
  Biocon’s Andhra Pradesh facility gets 3 USFDA observations
  15-Jun-24   16:32
  Swan Energy board OKs to incorporate subsidiary
  15-Jun-24   16:00
  RVNL emerges as L-1 bidder for railway project worth Rs 160 cr
  15-Jun-24   15:01
  RITES inks MoU with DVC for rail infra works
  15-Jun-24   13:33
  ICRA downgrades ratings of PTC India Financial with 'negative' outlook
  15-Jun-24   12:54
  Minda Corpo inks JV agreement with HCMF for automotive sunroof solutions and closure systems
  15-Jun-24   11:23
  Jubilant Pharmova unit to prepay $75 mln term loan
  15-Jun-24   08:51
  EIH Associated Hotels hits life high as board OKs 1:1 bonus issue
  14-Jun-24   16:03
Back Top