Central Bank of Indi posts Rs 310 crore profit in Q4, trims NPA

State-owned Central Bank of India on Monday reported Rs 310 crore net profit in the quarter ending March, 2022 (Q4) as against loss of Rs 1,349.2 crore in the same period previous year.

New Delhi, May 9: State-owned Central Bank of India on Monday reported Rs 310 crore net profit in the quarter ending March, 2022 (Q4) as against loss of Rs 1,349.2 crore in the same period previous year. Gross non-performing asset (NPA) of the bank in Q4 stood at 14.84% as against 16.55% in Q4FY21. In absolute terms. The bank’s gross NPA during the March quarter stood at Rs 28,156.22 crore. As compared to Rs 29,276.96 crore in the corresponding period of previous fiscal. “Net NPA reduced from 5.77% to 3.97% on Y-o-Y basis registering an improvement of 180 basis points and from 4.39% to 3.97% on Q-o-Q basis registering an improvement of 42 basis points,” Central Bank of said. One basis point is equivalent to 0.01%. Standalone net profit of the bank during FY22 was Rs 1,044.83 crore. As against a loss of Rs 887.58 crore in the previous year.

(Except for the headline. This story has not been edited by Business Upturn staff. And is published from a syndicated feed.)

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