business

Central Bank Q2 PAT rises 51% to ₹913 crore

On Oct 18, 2024 By The Hindu Bureau

Central Bank of India reported second quarter net profit grew 50.91% to ₹913 crore from ₹605 crore in the year-earlier period.

Operating profit for the quarter ended September 30, 2024 grew by 41.50% YoY to ₹2,165 crore.

Net interest income (NII) grew 12.62% YoY to₹3,410 crore. Net interest margin (NIM) for the quarter was at 3.44% compared with 3.29% in the same period last year.

Total business of the bank rose 7.07% YoY to ₹6,44,858 crore from ₹6,02,284 crore. Total deposits grew 5.57% to ₹3,91,914 crore YoY. Gross advance increased by 9.48% to ₹2,52,944 crore YoY. Retail, Agriculture and MSME loans grew by 19.95%, the bank said.

Gross NPAs reduced by 3 bps to 4.59%, and net NPA by 95 bps to 0.69%. Provision coverage ratio stood at 96.31%, with an improvement of 377 bps.

Published - October 17, 2024 06:57 pm IST

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