The state-owned Central Bank of India on Thursday posted a 51 per cent rise in profits to Rs 913 crore in the second quarter ending September 2024.
The lender had made a net profit of Rs 605 crore in the same quarter of the previous year.
Total income rose to Rs 9,849 crore during the quarter under review, up from Rs 8,412 crore in the same period last year, the Central Bank of India said in a regulatory filing.
Net interest income rose to Rs 3,410 crore in the latest July-September quarter compared to Rs 3,028 crore in the corresponding period a year ago.
The bank earned interest income of Rs 8,203 crore during the quarter, compared to Rs 7,351 crore in the year-ago quarter.
Net interest margin (NIM) in the reporting quarter increased to 3.44 per cent from 3.29 per cent at the end of the second quarter of the previous fiscal year.
Return on assets (ROA) improved to 0.85 percent, registering an improvement of 23 basis points, over the corresponding quarter of last year.
The bank was able to reduce gross non-performing assets (NPA) to 4.59 per cent of gross loans by the end of September 2024, from 4.62 per cent a year ago.
Similarly, net NPLs declined to 0.69 percent from 1.64 percent at the end of the second quarter of the previous fiscal year.
The provision coverage ratio stood at 96.31 percent, with a year-on-year improvement of 377 basis points.
The BASEL III total capital adequacy ratio improved to 16.27 percent (with a Tier 1 common capital ratio of 14.01 percent), as of September 2024, compared to 14.82 percent as of end of the second quarter of the last fiscal year.
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