Central Bank of India's net profit surges 33 pc to Rs 1,169 crore in Q1 FY26

Mumbai, July 19 (IANS) Central Bank of India on Saturday reported a 33 per cent year-on-year (YoY) growth in net profit, reaching Rs 1,169 crore for the first quarter of FY26, the bank said in an exchange filing on Saturday.

In the same period last year (Q1 FY25), the public sector lender had posted a net profit of Rs 880 crore.

Total income in the quarter ended on June 30 rose to Rs 10,374 crore, up from Rs 9,500 crore in Q1 FY25. Of this, interest income improved to Rs 8,589 crore, compared to Rs 8,335 crore in the year-ago period.

Meanwhile, operating profit increased to Rs 2,304 crore, from Rs 1,933 crore in the corresponding quarter of the previous fiscal.

The bank's Net Interest Income (NII) for the June quarter (Q1 FY26), stood at Rs 3383 crore.

The public sector lender’s asset quality saw notable improvement in the quarter under review as well.

According to the filing, the Gross Non-Performing Assets (GNPA) declined to 3.13 per cent of gross advances, slightly down from 4.54 per cent a year earlier.

Similarly, Net NPA of the bank dropped to 0.49 per cent, compared to 0.73 per cent in Q1 FY25.

As a result of improved asset quality, provisions and contingencies were nearly halved to Rs 521 crore, down from Rs 1,191 crore in the same quarter last year.

The Provision Coverage Ratio (PCR) improved by 85 basis points to 97.02 per cent, up from 96.17 per cent in the year-ago period.

Meanwhile, the bank’s gross advances grew 9.97 per cent year-on-year to Rs 2,75,595 crore, from Rs 2,50,615 crore, while total business expanded 10.84 per cent to Rs 7,04,485 crore, compared to Rs 6,35,564 crore at the end of June 2024.

Total deposits were up by 11.41 per cent YoY to Rs 428,890 crore from Rs 384,949 crore in Q1 FY25.

Capital Adequacy Ratio (CAR) strengthened to 17.6 per cent, up from 15.6 per cent in the same quarter of the previous fiscal.

--IANS

aps/na