Mumbai, July 17 (IANS). Public sector bank Central Bank of India has registered a net profit of Rs 1,324 crore in the first quarter (April-June) of the financial year 2026-27, an annual increase of 13.3 percent. The bank’s profit increased due to good growth in Net Interest Income (NII) and reduction in provisions, although its operating profit declined during this period.
According to the information given in the exchange filing, the net profit of the bank increased to Rs 1,324 crore in the April-June quarter, compared to Rs 1,169 crore in the same quarter of the last financial year.
The bank’s net interest income (NII), i.e. the difference between interest income and interest expenditure, increased by 16 per cent year-on-year to Rs 3,914 crore from Rs 3,383 crore in the same quarter last year.
However, the bank’s operating profit declined by 5.1 percent to Rs 2,186 crore from Rs 2,304 crore in the same quarter of the last financial year.
The bank also recorded a decrease in provisions in this quarter. Provision stood at Rs 401.6 crore in the April-June quarter, compared to Rs 521.1 crore in the same period a year ago.
There was a decline in provision on quarterly basis also. It was Rs 504.3 crore in the January-March quarter, which has now come down to Rs 401.6 crore.
During this period, there was also improvement in the asset quality of Central Bank of India. The bank’s gross non-performing assets (GNPA) ratio declined to 2.60 percent from 2.67 percent in the previous quarter. At the same time, the Net Non-Performing Assets (NNPA) ratio remained stable at 0.49 percent.
The bank did not declare any dividend along with the quarterly results. On Friday, the bank’s shares closed at Rs 31.70 with a decline of Rs 0.91 or 2.79 percent.
The bank said in its filing that the cost-to-income ratio in the first quarter stood at 55.40 percent, while it was 55.30 percent in the same quarter of the last financial year. A minor change of 10 basis points (bps) was recorded in this.
Additionally, the bank said the cost of deposits (on an annual basis) has improved to 4.60 per cent from 4.93 per cent.
–IANS
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