Central Bank of India’s Q3 FY24 gross advances up 14.91% y-o-y

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Central Bank of India (CBoI) has reported a 14.91 per cent year-on-year (y-o-y) growth in gross advances and 9.52 per cent y-o-y growth in total deposits in the third quarter ended December 31, 2023. As at December-end 2023, the public sector bank’s gross advances and total deposits stood at ₹2,40,066 crore and ₹3,77,684 crore, respectively, per the Bank’s quarter-end business update.

CASA (current account, savings account) deposits declined to 49 per cent of total deposits against 51.22 per cent as at December-end 2022. The credit-deposit ratio increased to 63.72 per cent in the third quarter against 62.43 per cent in the second quarter and 60.77 per cent in the year-ago quarter.