Central Bank of India net profit rises 69.09% to Rs279cr in Q3

28 Jan 2022 , 03:55 PM

With sustained performance, the Central Bank of India has registered a Net Profit Rs279 Crore compared to Net Profit of Rs165 Crore on (69.09%) Y-o-Y basis and Net Profit of Rs250 Crore for the quarter ended 30th September 2021 (11.60%) on Q-o-Q basis.

Operating profit improved to Rs1223 Crore from Rs1192 Crore (2.60%) on  Y-o-Y basis.

CASA deposit has increased to Rs168557 Crore from Rs155306 Crore registering a growth of 8.53% on Y-o- Y basis. Share of CASA deposit in total deposit has also improved to 50.01% in Dec’21.

Net NPA reduced from 4.73% to 4.39% on Y-o-Y basis registering an improvement of 34 bps and from 4.51% to 4.39 % on Q-o-Q basis registering an improvement of 12 bps.

CRAR improved from 12.39% to 15.87% on Y-o-Y basis registering an improvement of 348 bps and from 15.38% to 15.87% registering an improvement of 49 bps on Q-o-Q basis. Provision coverage ratio (PCR) improved from 84.19% to 85.77% on Y-o-Y basis registering an improvement of 158 bps, the bank said.

PROFITABILITY

Net Interest Income (NII) has improved from Rs2228 Crore to Rs2746 Crore (23.25%) on Y-o-Y basis and improved from Rs2495 Crore to Rs2746 Crore (10.06%) on Q-o-Q basis.

Net Interest Margin (NIM) has improved from 2.99% to 3.77% on Y-o-Y basis registering an improvement of 78 bps and improved from 3.36% to 3.77% on Q-o-Q basis registering an improvement of 41 bps.

Operating profit improved to Rs1223 Crore from Rs1192 Crore (2.60%) on  Y-o-Y basis. Cost to Income Ratio is 63.55% for the quarter ended 31st December 2021 as compared to 60.27% for the corresponding quarter of previous year and 56.00% as on September 30th, 2021 due to additional provision towards employee benefits.

ROA improved from 0.19% to 0.33% (14bps) on Y-o-Y basis and from 0.29 % (4bps) on Q-o-Q basis.

Cost of Deposit declined from 4.28% to 3.83 % (45 bps) on Y-o-Y basis and from 3.84% (1 bps) on Q-o-Q basis.

Yield on Advances stood at 6.52% for Q3’22 as against 7.01 in Q3’21. This is mainly due to reduction in MCLR and increase in RBLR portfolio.

Business per Employee has increased from Rs15.72 Crore to Rs16.87 Crore on (7.31%) Y-o-Y basis and from Rs16.43 Crore on (2.67%) Q-o-Q basis.

ASSET QUALITY

Gross NPA reduced from 16.30 % to 15.16% on Y-o-Y basis registering an improvement of 114 bps and from 15.52% to15.16 % on Q-o-Q basis registering an improvement of 36 bps.

Net NPA reduced from 4.73% to 4.39 % on Y-o-Y basis registering an improvement of 34 bps and from 4.51 % to 4.39% on Q-o-Q basis registering an improvement of 12 bps.

Provision Coverage Ratio (PCR) improved from 84.19% to 85.77% on Y-o-Y basis registering an improvement of 158 bps.

Credit Cost improved from 1.28% to 0.87 % (90 bps) on Y-o-Y basis. Slippage ratio stood at 0.88 % as against 0.07% during Q3’21, as there was moratorium granted by RBI due to COVID-19 pandemic up to Q3’21. In Q2’22 it was 1.45%.

CAPITAL

CRAR improved from 12.39% to 15.87% on Y-o-Y basis registering an improvement of 348 bps and from 15.38% to 15.87% registering an improvement of 49 bps on Q-o-Q basis.

Leverage ratio has improved from 4.13% to 5.22% (109 bps) on Y-o-Y basis and from 5.15% (7 bps) on Q-o-Q basis.

Bank’s Net worth has improved from Rs19300 Crore as of December 31st 2020 to Rs23470 Crore as on December 31st 2021 on standalone basis. 

DIGITAL BANKING:

Share of Digital Transaction through ADC (Alternative Delivery Channel) improved from 75.29 % to 77.22% during 12 months period ended December 2021, against corresponding period ended December 2020.

BRANCH SEGMENTATION:

Bank is having pan India presence with network of 4528 branches spanning 65% (2934 branches) in rural & semi-urban areas, 3315 ATMs and 7818 BC Points with total 15561 Touch Points as on 31st December 2021.

BUSINESS HIGHLIGHTS:

Total Business stood at Rs519786 Crore as on December 31st 2021, as against ₹504728 Crore registering a growth of Rs15058 Crore (2.98%) on Y-o-Y basis.

Total Deposits have increased by Rs13816 Crore and stood at Rs337688 Crore as on December 31st 2021 as compared to Rs323872 Crore as at the end of December 31st , 2020 reflecting increase of 4.27 % on Y-o-Y basis.

CASA deposit has increased to Rs168557 Crore from Rs155306 Crore registering a growth of 8.53% on Y-o- Y basis. Share of CASA deposit in total deposit has also improved to 50.01% in Dec’21.