Central Bank of India Share Price Target Forecast 2022, 2023, 2025, 2030

26 OCTOBER 2021

The Central Bank of India’s second-quarter net profit increased by 55 percent to Rs 250 crore.

For the quarter ended September, the public sector Central Bank of India recorded a 55 percent increase in net profit to Rs 250 crore. During the same quarter of the previous fiscal, the lender made a net profit of Rs 161 crore.

However, the bank’s overall income for the July-September 2021-22 period was Rs 6,503.39 crore, down from Rs 6,762.36 crore the previous year, according to a regulatory filing. Net interest income increased by 5.99% to Rs 2,495 crore from Rs 2,354 crore the previous year.

The net interest margin (NIM) improved by 15 basis points from 3.21 percent to 3.36 percent year over year, according to the company. In terms of asset quality, net non-performing assets (NPAs or bad loans) fell to 4.51 percent as of September 30, 2021, down from 5.60 percent the previous month.

Gross nonperforming assets (NPAs) fell from 17.36 percent to 15.52 percent. In addition, the bank’s cost of deposits fell to 3.84 percent in the reporting quarter from 4.45 percent.

However, provisions and contingencies for the quarter increased by Rs 1,048.52 crore, compared to Rs 1,033.34 crore set aside in the September 2020 quarter.

The state-owned lender claimed its slippage ratio was 1.45 percent, up from 0.08 percent when the RBI imposed an embargo because to the COVID-19 outbreak. In the June 2021 quarter, it was 0.95 percent.

“Slippage of two corporate accounts totaling Rs 1,150 crore resulted in a higher slippage ratio during the quarter,” the bank said in a statement. The slippage ratio for Q2FY22 would have been 0.67 percent if these accounts had not slid during the quarter.”

The entire business as of September 30, 2021 was Rs 5,12,094 crore, up from Rs 5,00,737 crore the previous year, representing an increase of Rs 11,357 crore year on year (2.27 per cent). Total deposits climbed by Rs 13,056 crore to Rs 3,36,500 crore at the end of the quarter, up 4.04 percent from Rs 3,23,444 crore the previous quarter. On the Bombay Stock Exchange, shares of the Central Bank of India finished at Rs 23.60, up 4.66 percent from the previous close.

Moneycontrol.com is the source for this information.

JULY 1, 2021

What Should Investors Do With Central Bank Shares? 


continue to ride the trend.

The stock has lately been in the headlines due to the Indian government’s decision to sell it. Prices have risen in June as a result of this news, following a protracted period of dismal performance. The stock has returned more than 48% in a month, and the price movement has been aided by increased activity.

With a recent swing low of Rs 22.75 and its 20 DEMA, the stock is producing a ‘higher top higher bottom’ structure on the daily chart. As a result, traders should use the trailing stop loss approach to stay with the trend. Support is found at Rs. 25 and Rs. 22.75, while resistance is found near Rs. 35.

Moneycontrol.com is the source for this information.

30 JUNE 2021

The stock of the Central Bank of India has risen to a 52-week high amid talk of privatisation.

Since the cabinet secretary-led panel chose banks for privatisation, shares of the Central Bank of India and Indian Overseas Bank have been in the spotlight. Indian Overseas Bank (IOB) and Central Bank of India (CBI) are potential candidates for disinvestment, according to the news channel’s sources.

A 51% interest in two public sector banks might be sold in the first round of disinvestment. The Finance Ministry is also working on legislation to allow public sector banks to be privatised (PSBs).

Central Bank Of India’s stock has climbed more than 100% in the previous six months, and was trading at Rs 28.05, up Rs 2.10 or 8.09 percent, at 12:23 p.m. It is currently trading at Rs 29.65, which is a 52-week high. It reached a top of Rs 29.65 and a low of Rs 26.10 throughout the day.

At the same time, Indian Overseas Bank’s share price was trading at Rs 28.05, up Rs 2.25 or 8.72 percent. It is currently trading at Rs 29.50, which is a 52-week high. It has traded between an intraday high of Rs 29.00 and a low of Rs 26.

Moneycontrol.com is the source for this information.

29 MAY 2021

The government receives around 280 crore preferential shares from the Central Bank of India for capital injection.

On Saturday, the Central Bank of India said that it has granted 280 million shares to the government on a preferential basis in order to inject Rs 4,800 crore in the bank’s capital. In a meeting on May 29, 2021, the bank’s capital raising committee granted 280,53,76,972 equity shares to the government at an issue price of Rs 17.11 per share, equal to Rs 4,800 crore, the bank said on BSE.

The allocation was made after the shareholders voted a special resolution at the Extraordinary General Meeting on May 18. The President of India’s (Government of India) share has grown from 89.78 percent to 93.08 percent as a result of this distribution.

Moneycontrol.com is the source for this information.

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