Central Bank of India reports a 33% increase in Q3 FY25 net profit to ₹958.93 crore, driven by growth in net interest income, deposits, and advances.
Central Bank of India, one of the country’s leading public sector banks, announced a robust performance for the December 2024 quarter (Q3 FY25). The bank reported a remarkable 33% year-on-year (YoY) increase in standalone net profit, which rose to ₹958.93 crore, compared to ₹717.86 crore in the same period last year.
The bank’s net interest income (NII) also saw a healthy growth of 12.31%, reaching ₹3,540.12 crore, up from ₹3,151.85 crore in the previous year. The net interest margin (NIM) improved to 3.48% as of December 31, 2024, compared to 3.28% during the same quarter in 2023.
Provisions, NPAs and Business Growth
Central Bank of India recorded a significant decline in provisions and contingencies, which fell to ₹556.64 crore from ₹821.98 crore in the previous year. On a sequential basis, the provision also decreased from ₹598.06 crore. The bank’s gross non-performing assets (GNPA) stood at ₹10,459.89 crore, with a GNPA ratio of 3.86%, showing an improvement from 4.50% YoY and 4.59% QoQ. The net non-performing assets (NNPA) were ₹1,554.98 crore, with an NNPA ratio of 0.59%, compared to 0.69% in the September 2024 quarter and 1.27% in the same quarter last year.
The bank’s total business reached ₹668,686 crore as of December 31, 2024, growing by 8.31% YoY. Deposits rose by 5.34%, totaling ₹397,907 crore, up from ₹377,722 crore in December 2023. Gross advances saw a growth of 12.99%, reaching ₹270,779 crore, compared to ₹239,646 crore in the previous year.
The bank’s Retail, Agriculture, and MSME (RAM) business continued to perform strongly, with growth rates of 16.18%, 14.83%, and 23.64%, respectively, leading to an overall growth of 17.99% in this sector.
Stock Market Impact
Following the announcement of its impressive results, shares of Central Bank of India surged by 5% to ₹55.45 per share. The stock was trading at ₹54.79, reflecting a 3.81% increase around 3:25 pm on January 20, 2025.
Central Bank of India’s growth in Q3 FY25 demonstrates its resilience in the Indian banking sector and strong operational execution, with a focus on expanding its business in the retail, agriculture, and MSME sectors.
