Central Bank Q3 net rises 64.16% at Rs 458 cr on improved margins

State-owned lender reports first full quarter after exiting regulator's Prompt Corrective Action regime

Central Bank of India’s (Central Bank) net profit rose by 64.16 per cent year-on-year (YoY) to Rs 458 crore in the quarter ended December (Q3 of FY23). This was on the back of an improvement in net interest margin (NIM).

The Mumbai-based public sector lender had posted a net profit of Rs 278 crore in Q3 of FY22. Net profit was sequentially higher in Q3 FY23 compared to Q2 FY23 when the figure stood at Rs 318 crore.

This was the first full quarter for the bank after exiting Reserve Bank of India’s Prompt Corrective Action (PCA) regime in September