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Central Bank of India net profit jumps 53pc to Rs 206 cr


MUMBAI, JULY 29, 2021

State-run Central Bank of India posted a 53 per cent jump year-on-year in its net profit to Rs 206 crore in the April-June quarter of this fiscal. The bank had reported a net profit of Rs 135 crore in April-June 2020. It had reported a loss of Rs 1,349 crore in the preceding quarter ended in March 2021.

Total income declined to Rs 6,245.54 crore in the first quarter of 2021-22 from Rs 6,726.68 crore in Q1FY21, the bank said in a regulatory filing.

Net interest income remained almost flat at Rs 2,135 crore in the quarter against Rs 2,146 crore in the year-ago quarter.

Gross non-performing assets (NPAs or bad loans) fell to 15.92 per cent of the gross advances by end of June this year from 18.10 per cent by year ago same period, it said.

Net NPAs improved to 5.09 per cent from 6.76 per cent.

Provision coverage ratio improved to 84.28 per cent as of June 30, 2021 from 79.12 per cent.

Share of Digital Transaction through ADC (Alternative Delivery Channel) improved from 70.79 per cent to 78.39 per cent during 12 months period ended on June 30, 2021, against corresponding period ended June 2020.

Central Bank of India is having pan India presence with network of 4594 branches spanning 63.91 per cent (2936 branches) in rural and semi-urban areas, 3427 ATMs and 7018 BC Points with total Touch Points 15039 as on June 30, 2021.

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