Central Bank of India reports 69% YoY growth in PAT during Q3

28 Jan 2022 , 04:26 PM

In its press release on Friday, the Central Bank of India Ltd. announced its results for the quarter ending December 2021 and reported marginally improved performance for the quarter.

Central Bank reported a Net Profit of Rs 279 crore for Q3 FY’22 as against Rs 165 crore for Q3 FY’21, reflecting a growth of 69.09% on a YoY basis, and Rs 250 crore for the quarter ending September 2021.

The bank’s operating profit for the December 2021 quarter improved to Rs 1223 crore against Rs 1192 crore for the previous corresponding quarter, reflecting a growth of 2.60% YoY.

Bank reported an increase in CASA deposits at Rs 168,557 Crore for Q3 FY’22 against Rs 1,55,306 crore for Q3 FY’21, an increase of 8.53% YoY.

The bank was able to reduce its NPA to 4.39% for Q3 FY’22 against 4.73% for the same quarter last year, showing an improvement of 34 bps.

Its Net interest income grew by 23.25% YoY to Rs 2228 for Q3 FY’22 crore against Rs 2746 crore for Q3 FY’21.

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

Bank’s Net worth has improved from ₹ 19300 Crore as of December 31st, 2020 to ₹23470 Crore as of December 31st, 2021 on a standalone basis.

Central Bank of India ended at Rs21.60 down by Rs0.15 or 0.69% from its previous closing of Rs21.75 on the BSE. The scrip touched an intraday high and low of Rs22.75 and Rs21.50 respectively.