The Central Bank of India's profit jumped in the second quarter ended September 2024. Net profit surged 51% on the year to Rs 913 crore in the July-September quarter, according to an exchange filing.
The state-run lender's net interest income rose 13% on the year to Rs 3,411 crore during the second quarter of fiscal 2025, compared to Rs 3,023 crore reported in the corresponding period of the previous financial year, the filing said. Net interest margin for the quarter stood at 3.44%, 15 basis points higher than 3.29% in corresponding quarter of the previous fiscal.
On a sequential basis, the gross non-performing asset grew 4.59%, compared to 4.54% in the preceding quarter. Net non-performing assets declined to 0.69% in the second quarter from 0.73% in the preceding quarter, the filing said.
CASA deposits during the period under review increased 4.61% on-year to Rs 1.91 lakh crore. These accounted for 48.93% of total deposits. Meanwhile, credit-to-deposit ratio improved 228 basis points to 64.71% from the level a year ago.
The lender saw its provisions and contingencies shrank 38% to 598.06 crore. Operating profit for the September quarter 41% to Rs 2,164.93 crore.
Also Read: Credit-To-Deposit Ratio Soars To 80% Amid Banks Struggles To Mobilise Large Deposits: Report
Central Bank Of India Share Price
Shares of Central Bank of India jumped 5.21% higher to Rs. 60.42 apiece, the highest level since Sept. 26. The stock pared gains to trade 2.66% higher at Rs 58.96 apiece as of 2:33 p.m., compared to a 0.85% decline in the NSE Nifty 50 index.
The stock had opened with a marginal gain of Rs 57.75 apiece on Wednesday, only to decline 0.66% to Rs 57.05 apiece during the session. It was trading in a narrow range throughout the session before the results were released.
The lender's share price recorded a 0.74% gain in the last two days. It has gained 21.52% in 12 months and 18.02% on a year-to-date basis. Total traded volume so far in the day stood at 4.41 times its 30-day average. The relative strength index was at 46.
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