Central Bank of India reported on Tuesday a 55.28 per cent rise in its net profit for the second quarter (Q2) of the current fiscal (FY22) on a year-on-year (YoY) basis.
The net profit increased to Rs 250 crore in comparison to the net profit of Rs 161 crore of the bank on a YoY basis. In addition to this, the bank's net interest income also improved by 5.99 per cent on a YoY basis. The net interest income rose from Rs 2,354 crore to Rs 2,495 crore on a YoY basis.
Even the interest margin improved from 3.21 per cent to 3.36 per cent, on a YoY basis. Besides, the bank's net NPA reduced from 5.60 per cent to 4.51 per cent on a YoY basis.
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Furthermore, gross NPA reduced from 17.36 per cent to 15.52 per cent on a YoY basis registering an improvement of 184 bps.
"Provision Coverage Ratio (PCR) improved from 82.24 per cent to 85.86 per cent on YoY basis registering an improvement of 302 bps and from 84.28 per cent to 85.86 per cent on QoQ basis, registering an improvement of 158 bps," the bank said in a statement.
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"Slippage ratio stood at 1.45 per cent as against 0.08 per cent during Q2 20 21, as there was moratorium granted by the RBI due to Covid-19 pandemic,"
said the state-run Central Bank of India
