Central Bank of India (CENTRALBK) Q3 24/25 earnings summary

Executive summary

• Total business grew 8.31% YoY to ₹6.68 lakh crore as of Dec'24, with advances up 12.99% and deposits up 5.34%.

• Net profit for Q3 reached ₹959 crore, up 33.57% YoY, the highest in 15 quarters; 9M net profit rose 57.98% YoY to ₹2,752 crore.

• CASA ratio remains strong at 49.18%, supported by rural and semi-urban network.

• Maintained strong rural and semi-urban presence, with 65% of branches in these areas and a customer base of 8.41 crore.

• Board approved unaudited standalone and consolidated results for Q3 and nine months ended 31 Dec 2024, with unmodified audit opinion and no deviations in fund utilization.

Financial highlights

• Net interest income rose 12.31% YoY to ₹3,540 crore; total income up 8.98% YoY to ₹8,510 crore.

• Operating profit increased 1.66% YoY to ₹1,963 crore; net profit up 33.57% YoY to ₹959 crore.

• Gross NPA ratio improved to 3.86% (standalone) and 3.87% (consolidated) as of Dec 2024, down from 4.50% YoY; Net NPA at 0.59% (standalone) and 0.61% (consolidated).

• Provision coverage ratio improved to 96.54%.

• Cost-to-income ratio at 58.83% in Q3, up 192 bps YoY; credit cost reduced to 0.49%.

Outlook and guidance

• FY25 guidance: business growth 10-12%, deposit growth 8-10%, advances growth 14-15%.

• NIM expected above 3%, gross NPA below 4%, net NPA below 1%, PCR 95-96%.

• ROA targeted at 0.75-1% by March; cost-to-income ratio at 50-52% for FY25.

• Recovery from written-off accounts expected to exceed ₹1,500 crore for the year.