New Delhi, Oct 17 (Reporter) Central Bank of India on Thursday posted a remarkable 50.91% year-on-year (Y-o-Y) increase in its net profit for the second quarter of FY25, reaching ₹913 crore, compared to ₹605 crore in the corresponding quarter of the previous fiscal year. The bank’s total business has grown by 7.07% Y-o-Y, amounting to ₹6,44,858 crore as of September 30, 2024, up from ₹6,02,284 crore in Q2 FY24. Total deposits registered a 5.57% growth, reaching ₹3,91,914 crore from ₹3,71,252 crore in the previous year. Gross advances also increased by 9.48%, rising to ₹2,52,944 crore, compared to ₹2,31,032 crore a year ago. The bank’s net interest income (NII) for the quarter grew by 12.62% Y-o-Y, totalling ₹3,410 crore, up from ₹3,028 crore in Q2 FY24. This improvement contributed to the rise in the net interest margin (NIM), which stood at 3.44%, compared to 3.29% in the same period last year. Operating profit for the quarter surged by 41.50%, reaching ₹2,165 crore, compared to ₹1,530 crore in Q2 FY24. Asset quality also showed improvement, with the gross non-performing assets (NPA) ratio declining to 4.59% from 4.62% a year earlier. Similarly, the net NPA ratio reduced to 0.69%, showing a substantial improvement from 1.64% in the previous year. The provision coverage ratio (PCR) increased to 96.31%, up by 377 basis points (bps) from 92.54% in the prior year. The return on assets (ROA) for Q2 FY25 improved to 0.85%, showing a 23-bps increase from 0.62% in Q2 FY24. Additionally, the return on equity (ROE) rose to 12.76%, marking a rise of 352 bps compared to the previous year's figure of 9.24%. The capital adequacy ratio (CRAR) under Basel III norms improved to 16.27%, with the Tier I ratio standing at 14.01%, reflecting a growth of 145 bps over the previous year’s level of 14.82%. The bank continues to strengthen its presence across India, with a network of 4,528 branches, of which 2,955 are in rural and semi-urban areas. The bank also operates 4,085 ATMs and 11,949 business correspondent (BC) points, providing a total of 20,562 touchpoints as of September 30, 2024...////...