Central Bank of India Q3 profit jumps 33% to ₹959 crore

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Central Bank of India. File

State-owned Central Bank of India posted a 33₹ summation successful its nett astatine ₹959 crore successful the 3rd 4th ended December 2024.

The slope had earned a nett net of ₹718 crore successful the aforesaid 4th a twelvemonth ago.

Total income accrued to ₹9,739 crore during the 4th nether reappraisal against ₹9,139 crore successful the aforesaid play past year, the Central Bank of India said successful a regulatory filing.

The involvement income of the slope besides roseate to ₹8,509 crore during the 4th compared to ₹7,809 crore successful the aforesaid play a twelvemonth ago.

Operating nett of the slope improved to ₹1,963 crore arsenic against ₹1,931 crore successful December 2023.

On the plus prime side, the bank’s gross Non-Performing Assets (NPAs) declined to 3.86₹ of the full loans astatine the extremity of December 2024 from 4.50₹ a twelvemonth ago.

Net NPAs oregon atrocious loans besides came down to 0.59₹ from 1.27₹ astatine the extremity of the 3rd 4th of the erstwhile fiscal.

Capital Adequacy Ratio of the slope roseate to 16.43₹ arsenic against ₹14.74₹ astatine the extremity of aforesaid 4th a twelvemonth ago.

Provision Coverage Ratio of the slope improved to 96.54₹ astatine the extremity of December 2024 arsenic compared to 93.73₹ astatine the extremity of the 3rd 4th of the erstwhile fiscal.

With respect to the bank’s projected acquisition of stakes of Future Enterprises Ltd (FEL) successful Future Genarali India Insurance Company Ltd (FGIICL) and Future Genarali India Life Insurance Company Ltd, the slope has emerged palmy bidder and issued a Letter of Intent (LoI) connected August 20, 2024.

As instructed successful the LoI, the slope submitted an unconditional acceptance and deposited a 15₹ bid magnitude of ₹508 crore arsenic beforehand information i.e ₹76.2 crore and remitted the remaining magnitude of ₹431.8 crore connected November 16, 2024.

The slope has received Competition Commission of India (CCI) support for the projected acquisition of 24.91₹ involvement of FEL successful Future Genarali India Insurance Company Ltd. (FGIICL) and 25.18₹ involvement of FEL successful Future Genarali India Life Insurance Company Ltd (FGILICL) connected October 15, 2024.

Published - January 20, 2025 11:28 p.m. IST

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