Central Bank of India on Friday reported 69 per cent jump in net profit at Rs 279 crore for the quarter ended December 2021 on the back of healthy growth in core income and fall in bad loan proportion. The bank had posted a net profit of Rs 165 crore in the same quarter a year ago.
Gross non-performing assets (NPAs) reduced to 15.16 per cent at end-December 2021, improving by 114 basis points from 16.30 per cent by the year-ago same period, it said.
Net NPAs reduced to 4.4 per cent from 4.73 per cent. However, the bank's provisions for bad loans and contingencies for the quarter rose to Rs 878.93 crore as against Rs 743.74 crore in October-December 2020-21.
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