Central Bank of India announced its quarterly results.
Results at a Glance
Quarter / Nine Months ended December – 31st 2023 vis-à-vis December 31st 2022.
- Bank continued to show improved performance in all Business parameters on a sustainable basis for the 11th consecutive quarter.
- Total Business grew by 11.48% to ₹ 617368 crore.
- Total Deposits up by 9.53 % to ₹ 377722 crore.
- Gross Advance increased by 14.71% to ₹ 239646 crore.
- Credit to Deposit Ratio improved to 63.60% registering an improvement of 283 bps, from 31st December 2022.
- Gross NPA improved to 4.50%, registering an improvement of 435 bps.
- Net NPA improved to 1.27%, registering an improvement of 82 bps.
- Provision Coverage Ratio improved to 93.73%, registering an improvement of 201 bps.
- Net Profit up by 56.77% to ₹ 718 crore (Quarter)/ 72.30% to ₹ 1742 crore (9 Months / YTD).
- Net Interest Income (NII) increased by 14.45% to ₹ 9355 crore for 9 months period ended on 31st December 23, over corresponding period of last year.
- Net Interest Margin (NIM) improved to 3.33% (6 bps, for 9 months period ended on 31st December 23, over corresponding period of last year.), though reduced marginally to 3.28% (57 bps, quarterly basis), due to increase in interest pay-out on deposits.
- Bank is maintaining adequate liquidity and the Liquidity Coverage Ratio (LCR) stands at 231.92%.
- Return on Assets (ROA) improved to 0.69% & 0.59% (quarterly & for 9 months period ended on 31st December 23, over corresponding period of last year.), registering an improvement of 19 & 21 bps, respectively.
- Return on Equity improved to 2.67% & 6.61% quarterly & for 9 months period ended on 31st December 23, over corresponding period of last year, registering an improvement of 81 & 245 bps, respectively.
- CRAR improved to 14.74%, of which Tier I is 12.17%, registering an improvement of 98 bps.
Profitability (Quarter Ended December 2023)
- Net Profit up by 56.77% to ₹ 718 crore in Q3FY24 against ₹ 458 crore in Q3FY23.
- Total Income (Interest Income plus Non-Interest Income) for Q3FY24 improved by 19.68%, from ₹ 7636 crore in Q3FY23 to ₹ 9139 crore for Q3FY24.
- Bank is maintaining adequate liquidity and the Liquidity Coverage Ratio (LCR) stands at
- 231.92%, as against 289.57% in same period of the preceding year & 236.58 % in the immediate preceding quarter.
- Return on Assets (ROA) improved to 0.69% for Q3FY24 as against 0.50% for Q3FY23.
- Return on Equity (ROE) also improved to 2.67% for Q3FY24 as against 1.86% for
- Q3FY23.
- Net Interest Income (NII) marginally declined by 4.04 % on Y-o-Y basis to ₹ 3152 crore in
- Q3FY24 as against ₹ 3285 crore for Q3FY23. However, excluding one off exceptional item,
- NII was up 3.73 % from ₹ 3042 crore in Q3FY23 to ₹ 3125 crore in Q3FY24.
