Central Bank of India returns to black with ₹310 crore net profit in March quarter; FY22 net at ₹1,045 crore
The Hindu
New Delhi State-owned Central Bank of India on may 9 reported a standalone net profit of ₹310 cror
State-owned Central Bank of India on may 9 reported a standalone net profit of ₹310 crore in quarter ended March 2022, on the back of less provisioning for bad loans.
The lender had posted a net loss of ₹1,349 crore in the same quarter a year-ago.
Total income during Q4 of FY22 rose to ₹6,419.58 crore, from ₹5,729.38 crore in the same period of FY21, Central Bank of India said in a regulatory filing.
For the full fiscal year 2021-22, the bank witnessed a turnaround and recorded a net profit of ₹1,045 crore. It had a net loss of ₹888 crore in 2020-21.
Total income during the year rose to ₹25,770.13 crore, from ₹25,845.90 crore in FY21.
The lender improved on its asset quality and brought down the gross non-performing assets (NPAs) to 14.84% of the gross advances at the end of March 2022, as against 16.55% in the year-ago period.
Net NPAs or bad loans fell to 3.97%, from 5.77%.
Flight AI177 will depart Bengaluru at 1.05 p.m. and arrive at London Gatwick at 7.05 p.m. (local time). From London Gatwick, flight AI178 will depart at 8.35 p.m. (local time) and arrive in Bengaluru at 10.50 a.m. (next day arrival). From Bengaluru, the flight will operate on Mondays, Wednesdays, Thursdays, Fridays and Sundays.