Central Bank Q3 net up 6.45% at Rs 165 cr on better net interest and margin

Other income down 38% to Rs 774 crore; provisions & contingencies decline to Rs 7,437 crore from Rs 12,492 crore

Public sector lender Central Bank of India posted a 6.45 per cent rise in net profit at Rs 165 crore in the third quarter ended December 2020 (Q3FY21) on improvement in net interest income and margin.

It had posted a net profit of Rs 155 crore in quarter ended December 2019 (Q3FY20).

Central Bank stock closed flat at Rs 14.8 per share on BSE.

Net Interest Income (NII) in reporting quarter rose by 10.19 per cent at Rs 2,228 crore from Rs 2,022 crore in December 2019. Net Interest Margin improved in Q3FY21 at 2.97 per cent as against 2.92 per cent in