More Stories

Informist, Friday, Jul. 17, 2026

 

Please click here to read all liners published on this story

--Central Bk of India: Expect recovery from Go Air accnt in Jul-Sept 
--CONTEXT: Central Bk of India mgmt comments at post earnings press event 
--Central Bk of India: Recovery target of INR 4.5 bln in Jul-Sept 
--Central Bk of India: Recovery target of INR 20 bln in FY27 
--Central Bk of India: Have raised $8.8 mln via FCNR(B) deposits so far 
--Central Bk of India: Current PE is good opportunity for new investors 
--Central Bk of India: Made expected credit loss provision of INR 15.35 bln 
--Central Bk of India: Hold 8% excess SLR 
--Central Bk of India:Have 75,500 NRI clients, holding meets to get deposits 
--Central Bk of India: Aim to raise up to $400 mln via FCNR (B) till Sept 
--Central Bk of India: Transmission of repo rate cuts to deposits is complete 
--Central Bk of India: Expect business of $500 mln from GIFT City branch FY27 
--Central Bk of India: Got good corporate loan proposals, pvt capex rising 
--Central Bk of India: Expect deposit growth of around 12% in FY27 
--Central Bk of India: To launch wealth management ops by Oct-Dec

 

MUMBAI – Central Bank of India Managing Director and Chief Executive Officer Kalyan Kumar said the bank has set a target of raising $400 million through foreign currency non-resident bank deposits by September. The bank has so far raised $8.8 million through FCNR (B) deposits, Kumar said at a post-earnings press conference Friday.     

 

The bank is likely to meet the target as it has 75,000 NRI accounts, Kumar said. The bank is also planning to conduct an 'NRI meets' in Thiruvananthapuram, Pune and Mumbai, and Jamnagar, Ahmedabad, and Gandhinagar during Onam, Ganesh Chaturthi, and Janmashtami, respectively, to attract flows into the FCNR(B) scheme, he said. 

 

The lender's net profit for Apr-Jun rose to INR 13.24 billion, up over 13% on year. The bank's total income was INR 106.78 billion, up 3% on year but down over 1% on quarter. During the quarter, its interest income was INR 96.91 billion, up nearly 13%.

 

The lender expects recovery from the Go Air account in the September quarter and has set a target of INR 4.5 billion of recovery for the quarter. For 2026-27 (Apr-Mar), the bank has set a recovery target of INR 20 billion. It expects business of $500 million from its GIFT City branch in the current year, senior officials at the bank said.

 

Central Bank of India's loans and advances rose to INR 3.47 trillion as of Jun. 30 from INR 3.37 trillion as of Mar. 30. This growth was supported by "good" corporate loan proposals and rising private capital expenditure, Kumar said. The bank expects its deposits to grow 12% in FY27, with total deposits as of Jun. 30 being INR 4.79 trillion. As of Mar. 31, deposits with the bank were INR 4.68 trillion. The transmission of repo rate cuts in the last financial year to deposits was completed by the bank, Kumar said.  

 

The lender had total statutory liquidity ratio holdings of INR 1.26 trillion, up from INR 1.17 trillion in the corresponding quarter the previous year. Kumar said the bank had excess SLR of 8% as of Jun. 30. The bank made an expected credit loss provision of INR 15.35 billion in the June quarter. The lender will launch wealth management operations by the end of the December quarter, the managing director said.    

 

Commenting about the bank's current price-to-earnings ratio, the management said the current ratio is a "good" opportunity for new investors to invest in the stock. The price-to-earnings ratio of the bank is approximately 6.4, which suggests that the stock is undervalued compared to other banking sector stocks. On Friday, the bank's shares ended at INR 31.66 apiece, down nearly 3% from its previous close on the National Stock Exchange.  End

 

Reported by J. Navya Sruthi and Kabir Sharma

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000  

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.