Central Bank of India: Financial Results For The Year Ended 31st March 2024

Performance Highlights:

Total Business grew by 10.34 % to ₹ 636756 crore.
Total Deposits up by 7.16 % to ₹ 385011 crore.
CASA Deposits have increased by ₹ 11657 crore to ₹ 191969 crore reflecting Y-o-Y growth of 6.46% & having a share of 50.02% of total Deposits.
Gross Advance increased by 15.60 % to ₹ 251745 crore.
Credit to Deposit (CD) Ratio improved to 65.59 % registering an improvement of 473 bps, from 31^st March 2023.
Gross NPA improved to 4.50 %, registering an improvement of 394 bps.
Net NPA improved to 1.23 %, registering an improvement of 54 bps.
Provision Coverage Ratio improved to 93.58%, registering an improvement of 110 bps.
Net Profit up by 41.33 % to ₹ 807 crore (Quarter)/ 61.13% to ₹ 2549 crore (FY).
Net Interest Income (NII) increased by 10.34 % to ₹ 12896 crore for 12 months period / FY ended on 31^st March 24, over corresponding period of last year.
Net Interest Margin (NIM) reduced marginally to 3.40 %.
Return on Assets (ROA) improved to 0.76 % & 0.63 % (Q-o-Q & for 12 months period /FY ended on 31^st March 24, over corresponding period of last year.), registering an improvement of 15 & 19 bps, respectively.
Return on Equity improved to 2.92 % & 9.53 % (Q-o-Q & for 12 months period/FY ended on 31^st March 24, over corresponding period of last year.), registering an improvement of 65 & 311 bps, respectively.
CRAR improved to 15.08 %, of which Tier I is 12.46 %, registering an improvement of 96 bps.

Profitability (Quarter Ended March 31^st, 2024):

ðNet Profit up by 41.33 % to ₹ 807 crore in Q4FY24 against ₹ 571 crore in Q4FY23.
Total Income (Interest Income plus Non Interest Income) for Q4FY24 improved by 13.20 %, from ₹ 8568 crore in Q4FY23 to ₹ 9699 crore for Q4FY24.
Return on Assets (ROA) improved to 0.76% for Q4FY24 as against 0.61% for Q4FY23.
Return on Equity (ROE) also improved to 2.92 % for Q4FY24 as against 2.27 % for Q4FY23.
Net Interest Income (NII) marginally improved to ₹ 3541 crore, as against ₹ 3513 crore in the corresponding period of previous year, registering a growth of ₹ 28 crore (0.80%).

Profitability (Year Ended March 31^st, 2024)

Net Profit up by 61.13 % to ₹ 2549 crore for 12 months period ended on 31^st March 2024, over the corresponding period of last year of ₹ 1582 crore.
Net Interest Income (NII) grew by 10.34 % on Y-o-Y basis to ₹ 12896 crore for 12 months period ended on 31^st March 24, over corresponding period of last year of ₹ 11687 crore.
Total Income (Interest Income plus Non-Interest Income) improved to ₹ 35434 crore (19.60 %), for 12 months period /FY ended on 31^st March 24, over corresponding period of last year from ₹ 29626 crore.
Return on Assets (ROA) improved to 0.63 % for 12 months period/FY ended on 31^st March 24, over corresponding period of last year of 0.44 %.
Return on Equity (ROE) improved to 9.53% for 12 months period ended on 31^st March 24, over corresponding period of last year of 6.42 %.

Business Highlights:

Total Business of the Bank, stood at ₹ 636756 crore as on March 31^st, 2024 as against ₹ 577075 crore registering growth of ₹ 59681 crore (10.34%) on Y-o-Y basis.
Total Deposits up by 7.16 % to ₹ 385011 crore.
Gross Advance increased by 15.60 % to ₹ 251745 crore on Y-o-Y basis as against ₹ 217779 crore for the same period of preceding year.
RAM (Retail, Agriculture & MSME) business grew by 15.47 %. The individual sector wise growth stood at 13.50 % (₹ 71193 crore), 9.39 % (₹ 46063 core) & 24.99% (₹ 49870 crore), respectively, for Retail, Agriculture & MSME.
Business per employee improved to ₹ 19.94 crore, during Q4FY24 as against ₹ 18.45 crore for the same period of preceding year.

Asset Quality:

Gross NPA improved to 4.50 % with an improvement of 394 bps, on Y-o-Y basis.
Net NPA improved to 1.23 % with an improvement of 54 bps, on Y-o-Y basis.
Provision Coverage Ratio stood at 93.58 %, with an improvement of 110 bps, on Y-o-Y basis.

Capital Adequacy:

Total BASEL III Capital Adequacy Ratio improved to 15.08 % (with Common Equity Tier 1 ratio of 12.46 %), as on 31^st March 2024, as compared to 14.12 % on March 31^st 2023, registering an improvement of 96 bps.

Branch Segmentation:

Bank is having pan India presence with network of 4500 branches with 2938 branches in rural & semi-urban areas (65.29%), 4084 ATMs and 11682 BC Points with total 20266 Touch Points as on March 31^st ’24.

Disclaimer: This press release serves for informational purposes only and does not constitute professional advice. Any reliance on the information provided is at the reader’s discretion.