Central Bank Of India Q4 Net Profit Rises to Rs 807 crore

Central Bank of India Q4 Earnings: Central Bank of India Ltd has released its latest financial report, showcasing robust performance in fourth quarter. bank has reported a net profit of  Rs 8.07 billion in fourth quarter of FY24. bank has reported a substantial increase in net profit for Q4, reaching an impressive 8.07 billion rupees. This marks a significant leap from previous quarter's figure of 5.71 billion rupees, indicating a notable improvement in profitability. Despite market volatility, Central Bank of India Ltd has maintained a stable gross non-performing assets (NPA) ratio of 4.50 per cent in Q4, mirroring performance of previous quarter. This consistency reflects bank's effective risk management practices.

Revenue Growth

Q4 has witnessed strong revenue growth, with interest earned totalling 83.37 billion rupees. This represents a substantial increase from previous quarter's figure of 71.44 billion rupees, highlighting bank's ability to generate robust income streams. bank has effectively managed provisions and contingencies in Q4, with a notable decrease to 7.07 billion rupees from 12.05 billion rupees in previous quarter. This reduction indicates improved asset quality and proactive risk management efforts.

NPA Reduction

Central Bank of India Ltd has demonstrated its commitment to dressing non-performing assets, with provisions specifically allocated for NPAs declining to 5.09 billion rupees in Q4. This reflects bank's proactive measures to mitigate credit risk and enhance asset quality. net NPA ratio has improved to 1.23 per cent in Q4, compared to 1.27 per cent in previous quarter. This improvement underscores Central Bank of India Ltd's focus on maintaining high asset quality standards and minimizing credit risk exposure.

With Reuters Inputs