MUMBAI, 25 JULY, 2022 (GPN): Central Bank of India Today reported a 14.2 per cent rise in standalone net profit at Rs 234.78 crore in first quarter ended June this fiscal on fall in bad loans, even as its expenses increased.
The State-owned lender had posted a net profit of Rs 205.58 crore in the same quarter a year ago.
However, compared sequentially, the profit was down by 24.3 per cent from Rs 310.31 crore in the quarter ended March 2022.
Total income during April-June period of 2022-23 increased slightly at Rs 6,357.48 crore, as against Rs 6,299.63 crore in the same quarter of 2021-22, Central Bank of India said in a regulatory filing.
MAJOR HIGHLIGHTS-Q1-FY’23 Bank earned Net Profit of ₹ 235 crore during the current quarter against Net Profit of ₹ 206 crore in June’21, with increase in net profit by 14.08%.
Net Interest Income (NII) for the quarter improved to ₹ 2142 crore as at the end of June’22 from ₹ 2127 crore as at the end of June’21, registering a Y-o-Y growth of ₹ 15 crore (0.71%).
Operating Profit for the quarter has marginally declined from ₹ 1232 crore as of June’21 to ₹ 1221 crore in June’22 due to provision for revaluation of investments by ₹132.80 crore, when compared to the same figure last year.
Gross Advances increased by ₹ 19419 crore (11.08%) on Y-o-Y basis and stood at ₹ 194648 crore in June’22 as against ₹ 175229 crore in June’21.
Net NPA reduced from 5.09% to 3.93% on Y-o-Y basis registering an improvement of 116 bps.
PCR as at June’22 stands at 86.61 % as against 84.28 % as at same quarter last year registering an improvement of 233 bps.
Total Business of the Bank, stood at ₹ 537309 crore as on June’22 as against ₹ 506712 crore registering growth of ₹ 30597 crore(6.04%) on Y-o-Y basis.
Total Deposits have increased by ₹ 11178 crore and stood at ₹ 342661 crore as on June’22 as compared to ₹ 331483 crore as at the end of June’21 reflecting an increase of 3.37% on Y o Y basis.
CASA Deposits have increased by ₹ 11864 crore to ₹ 174562 crore reflecting Y-o-Y growth of 7.29%. CASA share in Total Deposits has improved from 49.20% as at the end of June 2021 to 51.15% as at the end of June’22.
Gross NPA reduced from 15.92% to 14.90 % on Y-o-Y basis registering an improvement of 102 bps.
Net NPA reduced from 5.09% to 3.93% on Y-o-Y basis registering an improvement of 116 bps.
PCR as at June 30, 2022 stands at 86.61 % as against 84.28 % as at same quarter last year registering an improvement of 233 bps.
| BUSINESS HIGHLIGHTS |
- Total Business of the Bank, stood at ₹ 537309 crore as on June’22 as against ₹ 506712 crore registering growth of ₹ 30597 crore(6.04%) on Y-o-Y basis.
- Total Deposits have increased by ₹ 11178 crore and stood at ₹ 342661 crore as on June’22 as compared to ₹ 331483 crore as at the end of June’21 reflecting an increase of 3.37% on Y o Y basis.
- CASA Deposits have increased by ₹ 11864 crore to ₹ 174562 crore reflecting Y-o-Y growth of 7.29%. CASA share in Total Deposits has improved from 49.20% as at the end of June 2021 to 51.15% as at the end of June’22.
| ASSET QUALITY |
- Gross NPA reduced from 15.92% to 14.90 % on Y-o-Y basis registering an improvement of 102 bps.
- Net NPA reduced from 5.09% to 3.93% on Y-o-Y basis registering an improvement of 116 bps.
- PCR as at June 30, 2022 stands at 86.61 % as against 84.28 % as at same quarter last year registering an improvement of 233 bps.
| PROFITABILITY |
- Net Interest Income (NII) for the June’22 has improved from ₹ 2127 Crore to ₹ 2142 Crore (0.71%), Y-o-Y, despite having dip of ₹ 245 crore in investment coupon income.
- Net Interest Margin (NIM) for the Q1-FY’23 has improved from 2.83% to 2.88 % registering an improvement of 5 bps on Y-o-Y basis.
- Operating Profit for the quarter has marginally declined from ₹ 1232 crore as of June’21 to ₹ 1221 crore in June’22 due to provision for revaluation of investments by ₹132.80 crore, when compared to the same figure last year.
- Cost to Income Ratio is 58.92 % for the quarter ended June’22 as compared to 58.31 % for the corresponding quarter previous year.
- ROA improved from 0.24 % to 0.27 % during Q1-FY’23.
- Business per employee for the June’22 has increased from ₹ 16.00 Crore to ₹ 17.14 Crore on (7.13%) Y-o-Y basis.
| DIGITAL BANKING |
- Bank has registered a growth of 32.58%, in Internet Banking, Mobile Banking & IMPS transactions during 12 months period ended June’22, against corresponding period ended June’21.
| BRANCH SEGMENTATION |
- Bank is having pan India presence with network of 4528 branches with 65% (2934 branches) in rural & semi-urban areas, 2999 ATMs and 10644 BC Points with total 18171 Touch Points as on June’22.
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