Central Bank of India Deposits Logged A Growth of 7.18%

The Central Bank of India reported a year-on-year increase of 10.75% in total business, reaching Rs 7.05 lakh crore, compared to Rs 6.37 lakh crore in the same period last year. The bank's deposits grew by 7.18%, amounting to Rs 4.13 lakh crore, up from Rs 3.85 lakh crore in the previous year.

In terms of lending, gross advances rose by 16.20%, totaling Rs 2.9 lakh crore. However, the Current Account and Savings Account (CASA) ratio decreased to 48.91%, down from 50.02% year-on-year.

The bank initiated its Qualified Institutional Placement (QIP) after receiving the necessary approvals from its Board and shareholders. Following SEBI's pricing guidelines, a floor price of Rs 42.62 per share was established.

In the quarter ending December 2024, the Central Bank of India achieved a remarkable 34% year-on-year increase in standalone net profit, reaching Rs 958.93 crore. The bank's Net Interest Income (NII) also saw a rise of 12.31% year-on-year, amounting to Rs 3,540.12 crore. Additionally, the bank's asset quality improved, with the gross non-performing assets (NPA) ratio decreasing to 3.86%, down from 4.59% in the previous quarter.