Central Bank of India Q3 profit jumps 57% to Rs 718 crore

New Delhi: The state-owned Central Bank of India on Friday posted a 57 per cent increase in its profit at Rs 718 crore in the third quarter ended December 2023.

The bank had earned a net profit of Rs 458 crore in the same quarter a year ago.

Total income increased to Rs 9,139 crore during the quarter under review against Rs 7,636 crore in the same period last year, the Central Bank of India said in a regulatory filing.

However, the net interest income of the bank declined to Rs 3,152 crore during the quarter compared to Rs 3,285 crore in the same period a year ago.

Bank's gross Non-Performing Assets (NPAs) declined to 4.50 per cent of the total loans at the end of December 2023 from 8.85 per cent a year ago.

Net NPAs or bad loans also came down to 1.27 per cent from 2.09 per cent at the end of the third quarter of the previous fiscal.