The Central Bank of India, a state-owned bank, recorded a net profit of Rs 310.31 crore in March 2022, compared to a net loss of Rs 1349.21 crore in the preceding quarter ended March 2021. Total Operating Income increased 18.64 percent to Rs 5787.33 crore in the March 2022 quarter, compared to Rs 4878.02 in the March 2021 quarter.
Net profit for the financial year ended March 2022 was Rs 1044.83 crore, compared to a net loss of Rs 887.58 crore in the previous financial year ending March 2021. As a result, total Operating Income increased 0.31 percent to Rs 22801.65 crore in the fiscal year ended March 2022, from Rs 22730.23 crore in the previous fiscal year ending March 2021.
In Quarter 4 of the Fiscal year 2022, the bank had a pre-tax profit of Rs 398.45 crore, compared to a pre-tax loss of Rs 2,442.83 crore in Quarter 4 of the fiscal year 2021. Central Bank’s gross non-performing assets (NPAs) were at Rs 28,156.22 crore on March 31, 2021, up from Rs 27,608.37 crore on December 31, 2021, and Rs 29,276.96 crore on March 31, 2020.
The gross NPAs to gross advances was 14.84 percent on March 31, 2021, compared to 15.16 percent on December 31, 2021, and 16.55 percent on March 31, 2020.
The net NPAs to net advances decreased from 5.77 percent to 3.97 percent year on year, on March 31, 2021, a 180-basis point improvement, and from 4.39 percent to 3.97 percent quarter on quarter, on March 31, 2021, a 42-basis point improvement. One point is the same as 0.01 percent.
In FY22, the public sector bank recorded a net profit of Rs 1,044.83 crore, up from a net loss of Rs 887.58 crore in FY21. In FY22, total Income remained constant at Rs 25,770.13 crore compared to FY21.
While deposits climbed by 4% yearly to Rs 3,42,691.94 crore, advances increased by 7% year on year to Rs 1,68,173.50 as of March 31, 2022. The Central Bank of India is a government-owned financial institution. As of March 31, 2022, the bank had 4,528 branches, 2,976 ATMs, 10,299 business locations across India, and 17,803 contact points. The stock is presently trading at Rs 18.20 on the BSE, down 1.09 percent.
