Central Bank of India (CENTRALBK) Q4 23/24 earnings summary

Executive summary

• Achieved record net profit of ₹2,549 crore in FY24, up 61.13% year-over-year, with total business reaching ₹6,36,756 crore, a 10.34% increase from last year.

• Gross NPA reduced from 8.44% to 4.50%, Net NPA from 1.77% to 1.23%, and provision coverage ratio improved to 93.58%.

• Digital transformation initiatives, including AI-based chatbots and digital lending platforms, enhanced operational efficiency and customer experience.

• Strong focus on ESG, with a commitment to achieve Net Zero Scope 1 emissions by 2028 and significant investments in green finance and sustainable practices.

Financial highlights

• Net profit: ₹2,549 crore, up 61.13% year-over-year.

• Total income: ₹35,434 crore, up 19.60% year-over-year.

• Operating profit: ₹7,363 crore, up 6.96% year-over-year.

• Net Interest Margin (NIM): 3.40% (down from 3.47% last year).

• Return on Assets (ROA): 0.63% (up from 0.44%).

• Return on Equity (ROE): 9.53% (up from 6.42%).

• Cost-to-income ratio: 58.18% (up from 56.35%).

• Capital Adequacy Ratio (CRAR): 15.08%; CET1: 12.46%.

• CASA ratio: 50.02%; deposits grew 7.16% to ₹3,85,011 crore.

• Advances grew 15.60% to ₹2,51,745 crore.

Outlook and guidance

• Targeting 12–14% business growth, credit-deposit ratio of 70–72%, and 1% ROA by March 2025.

• Focus on further digital transformation, expanding branch and ATM network, and enhancing ESG initiatives.

• Plans to raise up to ₹5,000 crore in equity capital to support growth and maintain strong capital adequacy.