Central bank of India Net profit rises by 64.16% in the December

Central bank of India Net profit rises by 64.16% in the December 2022 quarter.

Bank continued to show improved performance in all Business parameters on a sustainable basis for the 7th consecutive quarter.

Credit to Deposit (CD) Ratio improved to 60.77% registering an improvement of 674 bps.

Provision Coverage Ratio improved to 91.72, registering an improvement of 595 bps.

Profitability (Quarter Ended December 31st, 2022)

Net Profit up by 64.16% to ₹ 458 crore in Q3FY23 on Y-o-Y basis as against ₹ 279 crore in for Q3FY22. The same is up by 44.03% on a Q-o-Q sequential basis.
Operating Profit has shown a growth of 44.21% on Y-o-Y basis to ₹ 1807 crore for Q3FY23 as against ₹1253 crore for Q3FY22. The same has improved by 3.37% on a Q-o-Q sequential basis.
Central Bank of India Net Interest Income (NII) grew by 19.33% on Y-o-Y basis to ₹ 3285 crore in Q3FY23 as against ₹ 2739 crore for Q3FY22. The same is up by 19.58% on a Q-o-Q sequential basis.
Net Revenue (Interest Income plus other Income) for Q3FY23 improved by

17.04 % from ₹ 6524 crore for Q3FY22 to ₹ 7636 crore for Q3FY23.

Cost to Income Ratio improved to 57.02% for Q3FY23 against 61.02% for Q3FY22. The same was 52.21% for Q2FY23.
Return on Assets (ROA) improved to 0.50% for Q3FY23 as against 0.33% for Q3FY22 and 0.35% for Q2FY23.
Return on Equity (ROE) also improved to 1.86% for Q3FY23 as against 1.21 for Q3FY22 and 1.31% for Q2FY23.

Profitability (Nine Months Ended December 31st, 2022)

Net Profit up by 37.74% to ₹ 1011 crore for the Nine Months ended December 31st 2022 against ₹ 734 crore for the same period of preceding year.

Operating Profit has shown a growth of 21.52% to ₹ 4776 crore for the Nine Months ended December 31st 2022 against ₹ 3930 crore for the same period of preceding year.

Net Interest Income (NII) grew by 15.60 % to ₹ 8174 crore for Nine Months ended December 31st 2022 as against ₹ 7071 crore for the same period of preceding year.

Fee based income (Commission/ Exchange/ Brokerage) rose by 35.93 % to ₹ 1324 crore for Nine Months ended December 31st 2022.

Cost to Income Ratio has shown an improvement of 231 bps and was at 55.92% for the Nine Months ended December 31st 2022.
Return on Assets (ROA) improved to 0.38% for Nine Months ended December 31st 2022 against 0.29% for the same period of preceding year.
Return on Equity (ROE) improved to 4.16% for Nine Months ended December 31st 2022 against 3.18 for the same period of preceding year.

Business Highlights

Total Business grew by 6.54% to ₹ 553768 crore.
Total Deposits up by 2.12% to ₹ 344847 crore.
Gross Advance increased by 14.73% to ₹ 208921 crore on Y-o-Y basis as against ₹ 182098 crore for the same period of preceding year.
Net Advance increased by 20.41% to ₹ 194492 crore on Y-o-Y basis as against ₹ 161514 crore for the same period of preceding year.
RAM (Retail, Agriculture & MSME) business grew by 15.49%. The individual sector wise growth stood at 20.96% (₹ 60288 crore), 8.10% (₹ 40641 core) & 15.67% (₹ 38182 crore), respectively.
Business per employee increased to 17.67 crore as against 16.87 crore for the same period of preceding year.

Asset Quality

- Gross NPA improved to 8.85% with an improvement of 631 bps, on Y-o-Y basis.
- Net NPA improved to 2.09% with an improvement of 230 bps, on Y-o-Y basis.

Capital Adequacy

Total BASEL III Capital Adequacy Ratio improved to 13.76%, as compared to 13.56% on Sept’22, with Common Equity Tier 1 ratio of 11.92% on Q3FY23.

Digital Banking

The Digital transaction count also registered a growth of 47%, in Internet Banking, Mobile Banking, IMPS and UPI transactions during 12 months period ended Dec’22 (Jan’22-Dec’22), against corresponding 12 months period ended Dec’21.

Branch Segmentation

Bank is having pan India presence with network of 4493 branches with 65.21 % (2930 branches) in rural & semi-urban areas, 3264 ATMs and 10765 BC Points with total 18522 Touch Points as on Dec ’22.

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