State-owned Central Bank of India on Monday reported that its net profit for the March quarter rose 28 percent to Rs 1,034 crore, helped by a reduction in bad loans.
The Mumbai-based lender had posted a net profit of Rs 807 crore in the same period a year ago.
The bank’s total income during the quarter rose to Rs 10,433 crore from Rs 9,699 crore a year ago, Central Bank of India said in a regulatory filing.
Interest income rose to Rs 8,619 crore from Rs 8,337 crore earlier.
However, net interest income (NII) declined to Rs 3,399 crore from Rs 3,541 crore in the quarter.
On the asset quality front, the bank’s gross non-performing assets (NPAs) declined to 3.18 percent of gross advances as against 4.5 percent at the end of March 2024.
Similarly, net NPAs declined to 0.55 percent from 1.23 percent of advances at the end of 2024. As a result, total provisions declined to Rs 969 crore during the quarter as against Rs 1,257 crore in the same quarter a year ago.
The provision coverage ratio stood at 96.54 percent as on March 31, 2025. The bank’s capital adequacy ratio improved to 17.02 percent from 15.08 percent at the end of FY24.
For the full year 2024-25, the bank reported a 78 percent rise in profit at Rs 3,785 crore as against Rs 2,549 crore in the previous year.
The bank’s total income during the fiscal grew to Rs 39,521 crore as against Rs 35,434 crore a year ago.
NII grew by 7.7 percent to Rs 13,897 crore from Rs 12,896 crore in the previous year. Net interest margin stood at 3.08 percent this year as against 2.92 percent for the year ended March 2024.
The bank’s board has recommended a dividend of 18 paise per equity share or 1.87 percent of the face value of Rs 10 for 2024-25.
Further, the board approved the bank’s capital raising plan for 2025-26 to raise a total of Rs 5,000 crore through follow-on public offering (FPO)/rights issue or any other means as required.
