Central Bank of India fell for a fifth straight session today. The stock is quoting at Rs 28.5, down 4.2% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.88% on the day, quoting at 17556.4. The Sensex is at 59263.69, down 1.56%.Central Bank of India has lost around 9.38% in last one month.Meanwhile, Nifty Pharma index of which Central Bank of India is a constituent, has eased around 9.49% in last one month and is currently quoting at 4040.3, down 5.37% on the day. The volume in the stock stood at 51.99 lakh shares today, compared to the daily average of 133.84 lakh shares in last one month.

The PE of the stock is 16.17 based on TTM earnings ending December 22.

Powered by Capital Market - Live News

Net interest income (NII) grew by 19.33% YoY to Rs 3,285 crore in Q3 FY23. While net interest margin (NIM) improved by 31 bps to 4.07% YoY in Q3 FY23.

Operating profit increased 44.21% to Rs 1,807 crore in Q3 FY23 as against Rs 1,253 crore in corresponding quarter last year. Slippage ratio increased by 51 bps to 0.37% YoY in Q3 FY23.

Total deposits rose 2.12% to Rs 3,44,847 crore in Q3 FY23 as compared to Rs 3,37,688 crore in Q3 FY22. Gross Advances increased by 14.73% to Rs 2,08,921 crore in Q3 FY23 as compared to Rs 1,82,098 crore in Q3 FY22.

The bank's CASA deposits increased by 4.46% to Rs 1,76,081 crore in Q3 FY23 as against Rs 1,68,557 crore in Q3 FY22. While CASA ratio improved by 121 bps to 51.22% in Q3 FY23 as compared to 50.01% in same quarter last year.

Return on assets (ROA) rose to 0.50% in Q3 FY23 as compared to 0.33% in Q3 FY22. Return on equity improved to 1.86% in Q3 FY23 as against 1.21% in Q3 FY22.

Bank's gross non-performing assets (NPAs) improved by 631 bps to 8.85% YoY in Q3 FY23. Net NPA rose by 230 bps to 2.09% YoY in Q3 FY23.

Provision coverage ratio (PCR) improved by 595 bps to 91.72%YoY in Q3 FY23.

Total BASEL III capital adequacy ratio improved to 13.76%, as compared to 13.56% on September 2022, with common equity Tier 1 ratio of 11.92% on Q3FY23.

Central Bank of India is engaged in providing banking and financial services with wide range of products and services to individuals, commercial enterprises, large corporates, public bodies and institutional customers.

The scrip was down 0.15% to Rs 32.45 on the BSE.

Powered by Capital Market - Live News

Net profit of Central Bank of India rose 67.61% to Rs 473.47 crore in the quarter ended December 2022 as against Rs 282.48 crore during the previous quarter ended December 2021. Total Operating Income rose 11.04% to Rs 6746.19 crore in the quarter ended December 2022 as against Rs 6075.40 crore during the previous quarter ended December 2021.

Powered by Capital Market - Live News

The participation by both the entities in this co-lending arrangement will result in greater expansion of portfolio by Central Bank of India and Mamta Projects.

Mamta Projects is a new-age, tech and risk-analytics focused lending institution. MPPL is an RBI regulated non-banking financial company and its business verticals include MSME lending, education loans, personal loans and anchor based financing.

Under this arrangement, Mamta Projects will originate and process MSME loan proposals under priority sector as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80% of the MSME loans under priority sector under mutually agreed terms. MPPL will service the loan account throughout the life cycle of the loan.

Central Bank of India is a public sector bank. The Government of India holds 93.08% stake in the bank.

The state-run lender's net profit rose 27.26% to Rs 318.17 crore on 8.24% increase in total income to Rs 7,064.96 crore in Q2 FY23 over Q2 FY22.

The scrip slipped 1.14% to currently trade at Rs 30.40 on the BSE.

Powered by Capital Market - Live News