Central Bank of India Q3 profit jumps 33% to ₹959 crore
The Hindu
Central Bank of India reports 33% profit increase, improved asset quality, and successful bid for Future Genarali India Insurance Company.
State-owned Central Bank of India posted a 33₹ increase in its profit at ₹959 crore in the third quarter ended December 2024.
The bank had earned a net profit of ₹718 crore in the same quarter a year ago.
Total income increased to ₹9,739 crore during the quarter under review against ₹9,139 crore in the same period last year, the Central Bank of India said in a regulatory filing.
The interest income of the bank also rose to ₹8,509 crore during the quarter compared to ₹7,809 crore in the same period a year ago.
Operating profit of the bank improved to ₹1,963 crore as against ₹1,931 crore in December 2023.
On the asset quality side, the bank’s gross Non-Performing Assets (NPAs) declined to 3.86₹ of the total loans at the end of December 2024 from 4.50₹ a year ago.
Net NPAs or bad loans also came down to 0.59₹ from 1.27₹ at the end of the third quarter of the previous fiscal.
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