 "Central Bank of India")
Public sector lender Central Bank of India posted a net profit of Rs 310 crore in the fourth quarter ended March 2022 on improved net interest income (NII) and fall in provisions.
It had posted a net loss of Rs 1,349 crore in the quarter ended March 2021.
For FY22, the Mumbai-based lender’s net profit stood at Rs 1,045 crore against loss of Rs 888 crore for FY21.
The bank is under the Reserve Bank of India’s (RBI’s) prompt corrective action (PCA) since June 2017. It reported net profit in FY22 after incurring losses for March 2016 to March 2021. It was placed
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