Central Bank's Q2 results: Net profit rises 21% to ₹1,469cr
What's the story
The Central Bank of India has announced a 21% year-on-year increase in its standalone net profit for the second quarter of FY27. The bank's net profit stood at ₹1,469 crore. This growth was primarily driven by a significant rise in its net interest income (NII), which increased by 26.3% to ₹4,145 crore during the quarter under review.
Financial health
Improvement in asset quality
The Central Bank of India also witnessed an improvement in its asset quality during the quarter.
Gross non-performing assets (NPAs) declined to 2.39% of gross advances from 3.01% a year earlier.
However, provisions for bad loans increased to ₹562.7 crore in Q2 FY27 from ₹401.6 crore in the previous quarter, and ₹314.1 crore a year ago period.
Growth metrics
Key highlights of the bank's performance
The Central Bank of India's global business grew by 20.54% to ₹8.89 lakh crore during the quarter.
Global advances also saw a nearly 30% year-on-year increase, reaching ₹3.81 lakh crore.
The bank's global deposits at the end of the quarter rose by 14.4% to ₹5.08 lakh crore, while CASA deposits increased by 9.2% to ₹2.27 lakh crore compared to last year.
Financial performance
Operating profit rises by nearly 27%
Central Bank of India's operating profit for the quarter rose by 26.9% year-on-year to ₹2,268 crore.
The bank's credit-deposit ratio also improved significantly, rising to 75.02% as of September 30 from 66.20% a year ago.
Other income for the bank declined to ₹1,380 crore in Q2 FY27 from ₹2,633.5 crore in Q1 FY27 and ₹2,486.6 crore a year ago period.