Money & Banking

Central Bank of India Q3 profit rises 6% to ₹165 crore

Our Bureau. Mumbai | Updated on February 09, 2021

Central Bank of India (CBoI) reported a 6 per cent year-on-year (y-o-y) increase in third quarter net profit at ₹165 crore against ₹155 crore in the year-ago quarter.

The public sector bank’s bottomline was supported by a 10 per cent y-o-y increase in net interest income (NII) and 48 per cent y-o-y decline in loan-loss provisions.

NII (difference between interest earned and interest expended) stood at ₹2,228 crore (₹2,022 crore in the year-ago quarter).

Non-interest income, comprising commission, exchange and brokerage, trading profit on investments, recovery in written off accounts, among others, was down 38 per cent y-o-y at ₹774 crore (₹1,249 crore).

Loan loss provisions were lower at ₹565 crore (₹1,089 crore).

Gross Non-Performing Assets (NPAs) declined to 16.30 per cent of gross advances as of December-end 2020 against 17.36 per cent as of September-end 2020.

Net NPAs declined to 4.73 per cent of net advances as of December-end 2020 against 5.60 per cent as of September-end 2020.

With proforma slippages (adjusted for the Supreme Court’s interim order on asset classification standstill), Gross and Net NPA ratio would have been 18.19 per cent and 6.58 per cent, respectively.

Net interest margin edged up to 2.97 per cent from 2.92 per cent a year ago. Credit cost has come down to 1.28 per cent from 2.66 per cent a year ago.


Gross advances were up 9 per cent y-o-y to ₹1,80,856 crore as of December-end 2020, mainly on the back of growth in MSME advances (12 per cent growth), retail (11 per cent) and corporate (9 per cent).

Total deposits increased by 5 per cent y-o-y to ₹3,23,872 crore as of December-end 2020. The proportion of low-cost current account, savings account (CASA) in total deposits improved to 48.11 per cent from 45.82 per cent a year ago.

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Published on February 09, 2021
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