Central Bank of India Q2FY24 net profit increased to 605.4 crore



Mumbai: Central Bank of India Q2FY24 net profit zooms 90% to 605.4 crore. The net NPA improved from 1.75 percent to 1.64 percent. However, the total business grew by 11.51 percent to Rs 602284 crore and total Deposits were up by 8.21 percent to Rs 371252 crore.The Operating Profit improved by 13.47 percent to Rs 3369 crore (as against, Rs 2969 crore Q2FY23), on half yearly basis, though it dipped marginally by 12.47 percent to Rs 1530 crore (as against, Rs 1748 crore Q2FY23), on quarterly basis, due to increasing in non-staff operating expenses.Net Interest Income (NII) increased by 10.23 percent to Rs 3028 crore as against Rs 2747 crore Q2FY23. The same is increased by 26.90 percent to Rs 6204 crore against Rs 4889 crore Q2FY23, on half yearly basis. Notably, the Provision Coverage Ratio (PCR) has improved to 92.54 (Q2FY24) from 89.20 (Q2FY23), registering an improvement of 334 bps.


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