The Central Bank of India’s financial performance for the first quarter of the current financial year (likely FY 2024-25) seems positive.
Profit:
There was a significant year-on-year (YoY) growth of 110% in profit after tax, reaching Rs 879.94 crore.
Sequentially (compared to the previous quarter), net profit increased by around 9%.
Asset Quality:
The gross non-performing asset (NPA) ratio improved on a YoY basis, dropping from 4.95% to 4.54%. This indicates a decrease in loan defaults.However, there was a marginal increase in the NPA ratio compared to the previous quarter (4.50%).
Overall, this seems to be a positive performance for Central Bank of India, with strong profit growth and some improvement in asset quality. It’s important to note the slight increase in NPA ratio compared to the last quarter
