The Central Bank of India’s Q2 FY23 PAT
On a consolidated basis, the Central Bank of India reported a 7.093cr increase in total revenues, or 8.26%, for the quarter ending in September 2022.
Sequential revenue growth was 11.05%. Similar to the majority of other banks in the quarter,
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Along with rising bond yields and repo rates, the central bank has also seen a strong increase in the yields on loans as well as investments.
Treasury revenue decreased significantly year over year in the quarter, although wholesale banking revenue was flat to positive and retail banking revenue increased significantly.
Central Bank of India
Consolidated Profit after Tax (PAT) for the quarter ending September 2022 increased 70.04% to Rs 341.41 crores due to greater loan and investment realizations.
Only Treasury generated operational gains during the quarter; retail and wholesale banks both had operating losses. While retail banking went from being profitable to losing money, losses in wholesale banking shrank.
PAT margins increased to 4.81% in the September 2018 quarter from 3.06% in the September 2017 quarter and 4.27% in the June 2022 quarter. While still high at 9.64%, gross NPAs are down over 600 bps.
The post The Central Bank of India’s Q2 FY23 PAT rise 70% to Rs 341.41 cr as loan and investment yields boost appeared first on IndiaFrontline.
