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Central Bank of India conducted a concall on 18 July 2024 to discuss the financial results for the quarter ended June 2024 and prospects of the bank. MV Rao, MD&CEO of the bank addressed the call:
Highlights:
The bank has showed sharp increase in the net profit to Rs 880 crore in Q1FY2025 up 110% yoy from Rs 418 crore in Q1FY24.
The business rose 9% to Rs 6.35 lakh crore end June 2024. The deposits stands at Rs 3.84 lakh crore and gross advances increased 14% to Rs 2.51 lakh crore end June 2024. CD ratio has increased by 452 bps yoy to 65.27% end June 2024.
The bank has reduced the GNPA ratio to 4.54% from 4.95% a year back. NNPA ratio has dipped to 0.73% end June 2024 from 1.75% end June 2023.
The provision coverage ratio has improved to 96.17% end June 2024.
The net interest margin of the bank was at 3.57% in Q1FY2025.
The return on assets has improved to 0.82% in Q1FY2025 up 39 bps yoy.
CRAR has impro...
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