Central Bank of India Targets Rs 5,000 Crore Profit Amid Tax Benefits

The Central Bank of India is positioning itself to attain a Rs 5,000 crore annual profit in the current fiscal year, as revealed by its MD and CEO, Kalyan Kumar. This confidence follows the clearing of deferred tax assets that previously impacted earnings.

Following a one-time tax impact of Rs 632 crore in FY26, the bank plans to transition to a new tax regime, enhancing profits by Rs 600-700 crore, and thereby improving its financial bottom line. The bank is also set to expand its branch network and increase staff numbers to drive growth.

With a focus on customer-centric operations and the integration of advanced technology, the bank is undergoing HR and process transformations. These efforts will support sustained growth while ensuring the security and trust of its customers. The expansion plan includes opening 150 new branches and hiring around 1,400 employees across various cadres.

The bank's strategic expansion and operational improvements intend to strengthen its role within the Indian economy significantly. Enhancing cybersecurity remains a priority to maintain customer trust and support safe financial transactions, according to Kumar.

(With inputs from agencies.)