Central Bank of India Achieves 51% Profit Surge in Q2 2024

Central Bank of India posted a 51% profit increase in Q2 2024, reaching Rs 913 crore. Total income and net interest income saw significant growth, while NPAs decreased. The bank's ROA improved, and its Provision Coverage and Capital Adequacy ratios strengthened, indicating strong financial health.

In a notable financial upturn, the Central Bank of India announced a 51% increase in net profit, rising to Rs 913 crore for the second quarter ending September 2024.

The bank's total income reached Rs 9,849 crore, marking a substantial rise from last year's corresponding period figure of Rs 8,412 crore. Net Interest Income grew to Rs 3,410 crore, up from Rs 3,028 crore a year earlier.

The bank successfully reduced its gross Non-Performing Assets to 4.59% and improved its Capital Adequacy Ratio to 16.27%, signifying enhanced operational efficiency and capital strength amidst improving market conditions.

(With inputs from agencies.)