Business

Central Bank Q1 PAT rises 53% to ₹206 crore

Central Bank of India reported net profit for the first quarter increased 53% to ₹206 crore on account of improved performance, it said.

Net NPAs improved from 6.76% to 5.09%.

Provision Coverage Ratio (PCR) improved from 79.12% to 84.28% Y-o-Y, up 516 bps, it said. During the quarter the bank’s Net Interest Income (NII) decreased to ₹2,135 crore compared with ₹2,146 crore a year ago. The bank said its Gross NPAs improved from 18.10% to 15.92% Y-o-Y, up 218bps. Net NPAs improved from 6.76% to 5.09% Y-o-Y, up 167 bps.

Provision coverage ratio (PCR) improved from 79.12% to 84.28% Y-o-Y, up 516 bps. However slippage ratio increased to 0.95% during Q1FY22 against 0.02% during Q1FY21 as there was moratorium granted by the RBI following the COVID-19 pandemic.

The bank said its CRAR improved from 11.50% to 14.88% Y-o-Y, up 338 bps and its net worth improved from ₹18,660.50 crore as of June 30 2020 to ₹2,2921.43 crore on standalone basis.

During the quarter the bank’s total business stood at ₹5,06,712 crore as against ₹4,97,748 crore a year ago, up 1.80%.

Total deposits improved from ₹ 3,21,252 crore to ₹3,31,483 crore during the same period last year, up 3.18 %, it said.


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Printable version | Sep 19, 2021 10:26:35 AM | https://www.thehindu.com/business/central-bank-q1-pat-rises-53-to-206-crore/article35591736.ece

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