Central Bank of India reported a 33% year-on-year (YoY) surge in standalone net profit, reaching ₹958.93 crore for the third quarter ended December 31, 2024 (Q3 FY25). This is a significant rise from ₹717.86 crore recorded during the same period last year.
The bank’s Net Interest Income (NII) increased by 12.31% YoY to ₹3,540.12 crore, compared to ₹3,151.85 crore in Q3 FY24. The Net Interest Margin (NIM) improved to 3.48% in Q3 FY25, up from 3.28% in the corresponding quarter of the previous year.
Provisions and contingencies saw a considerable decline to ₹556.64 crore, down from ₹821.98 crore in Q3 FY24. Sequentially, provisions also dropped from ₹598.06 crore in the previous quarter.
The bank showed improvement in asset quality, with the Gross Non-Performing Assets (GNPA) ratio reducing to 3.86% from 4.50% a year ago and 4.59% in the previous quarter. GNPA stood at ₹10,459.89 crore at the end of Q3 FY25. Similarly, the Net NPA (NNPA) ratio fell to 0.59% from 1.27% in Q3 FY24 and 0.69% in the preceding quarter. NNPA amounted to ₹1,554.98 crore.
As of December 31, 2024, the Central Bank of India’s total business reached ₹6,68,686 crore, marking an 8.31% YoY growth compared to ₹6,17,368 crore in the previous year.
Total deposits increased by 5.34% YoY to ₹3,97,907 crore, up from ₹3,77,722 crore as of December 31, 2023. Gross advances grew 12.99% YoY to ₹2,70,779 crore from ₹2,39,646 crore in the same period last year.
The bank’s RAM (Retail, Agriculture, and MSME) segment witnessed robust growth of 17.99%. Retail loans rose by 16.18% to ₹79,927 crore, agriculture loans grew by 14.83% to ₹51,274 crore, and MSME loans surged by 23.64% to ₹58,102 crore.
