Central Bank of India shares Q3 results, Net profit rose by 33% to Rs 959 crore

On the asset quality side, the bank's gross Non-Performing Assets (NPAs) declined to 3.86% of the total loans at the end of December 2024 from 4.50% a year ago.

Central Bank of India shares Q3 results, Net profit rose by 33% to Rs 959 crore
Central Bank of India shares Q3 results, Net profit rose by 33% to Rs 959 crore

Public Lender Central Bank of India reported a 33% increase in its profit at Rs 959 crore in the third quarter ended December 2024. The bank had earned a net profit of Rs 718 crore in the same quarter a year ago.

Total income increased to Rs 9,739 crore during the quarter under review against Rs 9,139 crore in the same period last year, the Central Bank of India said in a regulatory filing.

The interest income of the bank also rose to Rs 8,509 crore during the quarter compared to Rs 7,809 crore in the same period a year ago. Operating profit of the bank improved to Rs 1,963 crore as against Rs 1,931 crore in December 2023.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : Ascendion Accelerates AI-Driven Software Engineering Growth in the Philippines

On the asset quality side, the bank's gross Non-Performing Assets (NPAs) declined to 3.86% of the total loans at the end of December 2024 from 4.50% in the previous year.

Net NPAs or bad loans also came down to 0.59% from 1.27% at the end of the third quarter of the previous fiscal. The capital Adequacy Ratio of the bank rose to 16.43% as against Rs 14.74% at the end of the same quarter a year ago.

Provision Coverage Ratio of the bank improved to 96.54% at the end of December 2024 as compared to 93.73% at the end of the third quarter of the previous fiscal.

Shares of the Central Bank of India are trading green above 2.9% at Rs 54.29.

Read Also : BEL to showcase its capabilities at Aero India 2025