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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.
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