Hot Pursuit     04-Jan-24
Central Bank of India gains as Q3 advances rises 15% YoY
Central Bank Of India rose 1.37% to Rs 52.75 after the bank’s gross advances jumped 14.91% to Rs 2,40,066 crore as of 31 December 2023 as against Rs 2,08,921 crore as of 31 December 2022.

Sequentially, the bank's gross advances rose 3.91% in Q3 FY24 as against Rs 2,31,032 crore as of 30 September 2023.

The public sector bank reported a 9.52% growth in total deposit to Rs 3,77,684 crore as of 31 December 2023 as against Rs 3,44,847 crore as of 31 December 2022 and 1.73% increase from Rs 3,71,252crore as on 30 September 2023.

Total business stood at Rs 6,17,750 crore as of 31 December 2023, recording a growth 11.55% year on year (YoY) and 2.57% quarter on quarter (QoQ).

CASA deposits as on 31 December 2023 was at Rs 1,84,573 crore (up 4.82% YoY and up 0.95% QoQ).

CASA ratio reduced to 49% as of 31 December 2023 as compared to 51.22% as of 31 December 2022 and 49.40% as of 30 September 2023.

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 4489 branches with 65.22 % (2928 branches) in rural & semi-urban areas, 4044 ATMs and 10962 BC Points with total 19495 Touch Points as on September 2023.

The bank’s net profit jumped 90.25% to Rs 605 crore on 19.07% increase in total income to Rs 8,412 crore in Q2 FY24 over Q2 FY23.

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