Central Bank of India reported steady growth in its March quarter business update, supported by strong traction in loans and deposits.
Total business rose 15.65% year-on-year to ₹8.13 lakh crore, reflecting continued balance sheet expansion.
Loan growth remained robust, with gross advances increasing 18.9% year-on-year to ₹3.45 lakh crore, and rising 6.61% sequentially.
On the liabilities side, total deposits grew 13.37% year-on-year to ₹4.68 lakh crore, with a 3.84% increase over the previous quarter. CASA deposits stood at ₹2.21 lakh crore, up 9.8% year-on-year and 4.3% sequentially.
However, the CASA ratio declined 160 basis points year-on-year to 47.31%, though it saw a marginal uptick of 18 basis points on a quarterly basis.
In the December quarter, the bank reported a 31.6% rise in net profit to ₹1,262 crore, supported by higher other income, even as net interest income declined 1% year-on-year to ₹3,503 crore.
Asset quality improved sequentially, with gross NPAs easing to 2.7% from 3.01% in the September quarter, while net NPAs stood at 0.45%.
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Shares of Central Bank of India ended 0.63% higher at ₹33.29 on the NSE on Thursday.
