Central Bank of India Sees Profit Surge Amid Improved Asset Quality
The Central Bank of India reported a 33% increase in net profit to Rs 1,169 crore in Q1 of the current fiscal year, driven by higher core income and lower bad debts. A rise in total income, improved asset quality, and reduced provisions contributed to this growth.
- Country:
- India
The Central Bank of India has announced a significant financial performance for the first quarter of the current fiscal year, posting a 33% growth in net profit to Rs 1,169 crore. This surge has been attributed to an increase in core income and a notable decline in bad debts.
In comparison to the previous year's first quarter, which saw a net profit of Rs 880 crore, the bank's total income increased to Rs 10,374 crore from Rs 9,500 crore. Interest earnings also witnessed a rise, reaching Rs 8,589 crore compared to Rs 8,335 crore in the prior year.
Alongside income growth, the bank's asset quality improved, with gross NPAs dropping to 3.13%. This, supplemented by a decrease in provisions to Rs 521 crore, significantly boosted profitability. The bank's total business experienced a growth of 10.84%, reaching Rs 7,04,485 crore by June 2025.
(With inputs from agencies.)
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