Central Bank of India's Q2FY22 YoY net profit up 55.28%

Mumbai, Oct 26 State-run Central Bank of India on Tuesday reported a rise of 55.28 per cent in its net profit for the second quarter of the current fiscal on a year-on-year basis.

The bank's net profit rose to Rs 250 crore compared to net profit of Rs 161 crore on YoY basis.

Besides, the bank's net interest income improved by 5.99 per cent to Rs 2,354 crore to Rs 2,495 crore on a YoY basis.

The net interest margin improved from 3.21 per cent to 3.36 per cent, on a YoY basis.

Furthermore, the bank's net NPA on a YoY basis reduced from 5.60 per cent to 4.51 per cent.

Additionally, gross NPA reduced from 17.36 per cent to 15.52 per cent on a YoY basis registering an improvement of 184 bps.

"Provision Coverage Ratio (PCR) improved from 82.24 per cent to 85.86 per cent on YoY basis registering an improvement of 302 bps and from 84.28 per cent to 85.86 per cent on QoQ basis, registering an improvement of 158 bps," the bank said in a statement.

"Slippage ratio stood at 1.45 per cent as against 0.08 per cent during Q2 20 21, as there was moratorium granted by the RBI due to Covid-19 pandemic."

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