Central Bank of India’s profit increased by 57 percent to Rs 718 crore. Loktej Business News
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New Delhi, 19 January (HS). Public sector Central Bank of India has announced the results for the third quarter of the current financial year 2023-24. The bank’s profit has increased by 57 percent to Rs 718 crore in the October-December quarter. The bank’s profit in the same period of the last financial year was Rs 458 crore.
Central Bank of India informed the stock market on Friday that its profit in the current financial year 2023-24 quarter increased by 57 percent to Rs 718 crore. Due to this, the bank had made a profit of Rs 458 crore in the same quarter of the previous financial year 2022-23. According to the bank, its total income during this period increased to Rs 9,139 crore, which was Rs 7,636 crore in the same period of the last financial year.
According to the bank, its net interest income has declined to Rs 3,152 crore, which was Rs 3,285 crore in the same period of the last financial year. The bank’s gross non-performing assets (NPAs) declined to 4.50 percent of total loans in the third quarter, whereas in the same period of the last financial year, NPAs stood at 8.85 percent of total loans. Apart from this, the net NPA of the bank also reduced to 1.27 percent in the December quarter of the current financial year 2023-24, which was 2.09 percent in the same period of the last financial year.
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