google.com, pub-7379970851380291, DIRECT, f08c47fec0942fa0 Central Bank of India Q2 profit rises 55% YoY to Rs 250 crore - Insightipedia

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Thursday, October 28, 2021

Central Bank of India Q2 profit rises 55% YoY to Rs 250 crore

 


Kolkata: With sustained performance, the Bank has registered a Net Profit ₹ 250 Crore compared to Net Profit of ₹ 161 Crore on Y -o- Y basis ( 55. 28%) and Net Profit of ₹ 206 Crore for the quarter ended 30 th June’21 ( 21. 36% on Q- o- Q basis). Operating profit improved to ₹1401 Crore from ₹1386 Crore (1. 08 %) on Y- o- Y basis, and from ₹ 1085 Crore (29. 12%) on Q- o- Q basis. CASA share in total Core Deposits has improved from 47.72% to 49. 79 % on Y-o- Y basis registering an improvement of 207 bps and improved from 49.20% to 49. 79 % on Q-o-Q basis registering an improvement of 59 bps. Net NPA reduced from 5.60% to 4. 51% on Y-o- Y basis registering an improvement of 109 bps and from 5. 09% to 4.51% on Q- o- Q basis registering an improvement of 58 bps . CRAR under BASEL III improved from 12.34% to 15.38 % on Y- o- Y basis registering an improvement of 304 bps and from 14.88% to 15.38% registering an improvement of 50 bps on Q- o- Q basis. Provision coverage ratio ( PCR) improved from 82. 24% to 85. 86% on Y- o- Y basis registering an improvement of 362 bps and from 84.28% to 85.86% on Q- o- Q basis registering an improvement of 158 bps . Net Interest Income (NII) has improved from ₹ 2354 Crore to ₹ 2495 Crore (5 .99 %) on Y- o- Y basis and improved from ₹ 2135 Crore to ₹ 2495 Crore ( 16. 86 %) on Q-o-Q basis. Net Interest Margin (NIM) has improved from 3.21%to 3.36% on Y- o- Y basis registering an improvement of 15 bps and improved from 2.84% to 3.36% on Q- o- Q basis registering an improvement of 52bps . Operating profit marginally improved to ₹1401 Crore from ₹1386 Crore (1. 08% ) on Y-o- Y basis, and from ₹ 1085 Crore (29.12%) on Q- o- Q basis. Cost to Income Ratio is 56.42 % for the quarter ended September 30, 2021 as compared to 54.73 % for the corresponding quarter previous year and 61 .39 % as on June 30, 2021. ROA improved from 0.19% to 0.29% (10bps) on Y- o- Y basis and from 0.24 % (5 bps) on Q- o-Q basis. Cost of Deposit declined from 4.45% to 3.84% (61 bps) on Y- o- Y basis and from 3. 93 % (9 bps) on Q-o-Q basis. Yield on Advances stood at 6.66 % for Q2’22 as against 7.31 in Q2’21. This is mainly due to reduction in MCLR and increase in RBLR portfolio. However, it has improved from 6.55% to 6.66% (11bps) on Q- o- Q basis. Business per Employee has increased from ₹ 15.42 Crore to ₹ 16.43 Crore on Y-o-Y basis and from ₹16.00 Crore on Q- o- Q basis.

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