Central Bank back in black, posts 53% jump in Q1 net

State-run Central Bank of India posted a 53 per cent jump year-on-year in its net profit to Rs 206 crore in the April-June quarter of this fiscal. The bank had reported a net profit of Rs 135 crore in April-June 2020. It had reported a loss of Rs 1,349 crore in the preceding quarter ended in March 2021.

Total income declined to Rs 6,245.54 crore in the first quarter of 2021-22 from Rs 6,726.68 crore in Q1FY21, the bank said in a regulatory filing.

Net interest income remained almost flat at Rs 2,135 crore in the quarter against Rs 2,146 crore in the year-ago quarter.

Gross non-performing assets (NPAs or bad loans) fell to 15.92 per cent of the gross advances by end of June this year from 18.10 per cent by year ago same period, it said.

Net NPAs improved to 5.09 per cent from 6.76 per cent.

Provision coverage ratio improved to 84.28 per cent as of June 30, 2021 from 79.12 per cent.

The bank said the slippage ratio during the quarter increased to 0.95 per cent from 0.02 per cent in year ago quarter as moratorium was granted by the RBI due to Covid-19 pandemic in June 2020 quarter.