Thank you. Good afternoon, everyone, and thank you for joining both results conference call of Central Bank of India.

Today, from the senior management side, we have with us Kalyan Kumar, MD and CEO, Sri Murali Krishna, Executive Director, Sri Mahendra Dohare, Executive Director, Sri Ratan Kumar, Executive Director, and Mr. Mukul, Chief Financial Officer.

Now, without any further delay, I hand over the call to MD sir for his opening remarks, post which we'll have a Q&A session. Thank you, and over to you, sir.

Afternoon. In brief, I am going to capture the major highlights of Q3 result, and it is quarter on quarter, and some places I will compare it with year on year basis.

Then, if I say total business has grown by 15.77 percent, and that is 7.74 lakh crore, within which total deposit has grown by 13.24 percent, that is 4.50 lakh crore, and CASA has grown by 8.54 percent, that is 2.11 lakh crore. Gross advances has grown by 19.48 percent, that is 3,23,531 crore year on year basis.

REM has grown by 17.89 percent, that is 2 lakh 23,000 crore. Corporate has grown by 23.18 percent, that is 1 lakh 365 crore.

Total income also has increased by 12.62 percent, that is rupees 10,968 crore, within which interest income has grown by 6.15 percent, that is 9,033 crore. Net profit, all-time high, 31.70 percent increased to 1,263 crore rupees.

Gross NPA has been improved by 116 basis point, and that is 2.70 percent. Net NPA is 0.45 percent, that is 14 basis point improvement.

ROA is above 1.1, and it is 1.01 percent. ROE is 14.47 percent, and CD ratio has improved by 375 basis point to 72.

Here I want to say in market guidance, in business growth, deposit growth, advances growth, REM, gross NPA, net NPA, PCR, slippage ratio, credit cost, ROA. In 11 parts we have achieved whatever market guidance we have given, we have achieved.

Only CASA, NIM, and cost to income. These two parts we actually could not achieve, because NIM guidance was above 3 percent, we achieved to 2.96 percent.

Cost to income guidance was given less than 56 percent, and it is 57.84 percent. I am sure we will meet the expectations of the market and investor, and we have initiated several strategic steps to achieve these parameters also.

There is reduction in yield on advances by 86 basis point year on year, that is 8.15, and cost of deposits has also decreased by 6 basis point, that is 4.75. Credit cost I would like to highlight is 0.37.

Slippage ratio in this quarter it was 0.25. This is also one highlight.

Other operating expenses has reduced by 119 basis point, and it is also one improvement which I want to highlight in front of you all. Capital adequacy ratio is 16.13, within which CET1 is 13.87, and Tier 2 is 2.26, and our leverage ratio is 5.63.

Gross NPA in absolute terms is rupees 8,726 crore, and net NPA is rupees 1,414 crore. Slippages during Q3 is rupees 658 crore.

It is also one of the best in previous quarter. In nine months slippages is 1,865 crore.

Another highlight which I want to make, recovery in return of account, this quarter it is 1,026 crore, and in nine months it is rupees 1,919 crore. In that way there is marked improvement in recovery side and NPA management side.

Provision coverage ratio, another signal of resilience in our balance sheet, it is 96.69, that is including TWA account. Our restructured book also, total restructured book is 4,113 crore, standard restructured book.

SMA 5 crore and above is 0.32 percent, that is rupees 1,024 crore. Total SMA 0, SMA 1, and SMA 2 constitute of 0.32 percent of our standard advances as of this quarter.

In that way, in brief, I can tell you your bank is very resilient and adequate capital is available, and with the strategy which we have taken by integrating technological upgradation and digital capabilities, I am sure that in coming days you will see the performance of Central Bank of India actually as per your expectation, as per market expectations. With this, I am open for the questions.

Questions, please. Thank you.

Thank you for giving this opportunity. Congratulations to Kalyan Kumar, sir, and of course other EDs, the entire management team and the staff of Central Bank of India for a very good quarter.

Sir, after having coming in this bank, you may not be knowing that in earlier three, four quarters I had the concern on the advances growth, credit growth, which was almost muted if you look at the first two quarters. In this one quarter itself, the credit growth is 10.24%, which is definitely commendable and leading to the operating profit of 2,292 crores.

It's up to you,

sir. 19.48%.

No, that is year on year. I'm talking about nine months.

This quarter. This quarter and quarter, it is 10.24%.

Yes.

Advances. Generally, I compare for the current financial year, and the credit has gone up to 11.52% in this nine months period.

Looking at this quarter of 10.24% growth from 2,93,000 crores to 3,23,000 crores, shall we take it, sir, that the credit growth for the whole year, whole of the financial year FY26, will be robust and beyond the advance credit target of 15-16% given earlier? This is my first thing.

Coupled with that, the deposit growth was muted in this quarter, and the overall deposit growth also is only for nine months is 9.18%. It means to get even the 13% target deposit, you will have to generate the deposit of almost about 16,000 crore in the remaining this one quarter.

These are the two things on which if you can throw a little light on that, so that I can take it further question, sir.

Ajmera, thank you for your encouraging words, and I want to assure you, in credit side also, these are not just numbers. For this number and growth which you are observing, it is a well laid down strategy, and where activation of our every business unit is a part, mobilizing both liability side and asset side.

In that direction, first I will capture credit side question, asset side question, which we have asked. Earlier in previous quarter, you must have observed our total loan book, out of total loan book, 72% was belonging to RAM side, and 28% was corporate side, and growth rightly said by you.

What we did for RAM segment, retail, agriculture and MSME segment, for retail, agri, MSME, we started outreach program. I joined on 30th September, and in November first week we started outreach program, more than 100-plus places.

We got very good business leads also, and those leads converted into, that actually helped us a lot in achieving these numbers which you are observing now. It is a continuous process.

Again, in the month of February, already these are laid out, dates have been declared, and people are working on the ground. In this process what happens, business from field, which is a very challenging task for all the public sector banks, we are able to activate them, and their contribution towards building quality loan book is ensured.

This is one aspect. Towards corporate lending side also, we started conducting credit approval committee meeting every week, and MC meeting, board committee meeting also every fortnight we are organizing.

We are getting good proposal in NBG side and also in sanction side, and good amount of sanction actually we have done. I will tell you, in last nine months, Central Bank of India head office level delegation committee has sanctioned 1,17,000-plus crore.

That is actually, lot of things are still under disbursement. I can assure you that in the remaining weeks also we will take decisions and looking to the undisbursed part of already sanctioned proposal.

I am sure that the target of 1,13,000 crore-plus credit book, we are going to achieve that. We are confident about it.

Another regarding your question towards deposit mobilization resources side, there also Central Bank of India is having, actually I will say that we didn't go for any CD, or also did not give any higher interest rate to mobilize resources. I am happy to share, our 65% branches are having more than 50% CASA ratio.

Now also 47% is one of the highest CASA numbers. In term deposit side also our growth was more than 18%.

The people have trust in this brand of Central Bank of India, and our presence across the country towards northern side, eastern side, northeastern side, and central side, we have a good number of opportunity for CASA. We have also taken steps for actually segment-wise product design, where lot of bundling of insurance products, life insurance, term insurance, accidental insurance, and several products we have given and make it one of the best products available in the market.

With our marketing people and branch people, we have started campaign, which is named as Aaghaz, and we are expecting 20,000 crore through this campaign in CASA side. With the available structure, technological support, because you know we are having very good mobile app, Cent mobile app, which provides very good experience, banking experience to our customers.

In that way I am sure that resources side also we don't have any big challenge in mobilizing the required resources to meet our aspiration towards credit growth. Thank you.

Sir, my next question is, sir, on the profitability front. You definitely performed well on the operating front, but because of little higher provisioning in this quarter, our net profit is just 50 crore above the last quarter's profit of 1,213 crore, and what I see is that the provisions have gone up.

Mainly one is on the restructured book to 346 crore as against 113 crore, and also on the standard asset book also the provision has gone up substantially from 30 crore to 150 crore. This is maybe one of the reasons.

What is the reason for making the higher provision, and whether are we going to have the need for the same in the next quarter also? Because ultimately the bottom line is not reflecting what the operating profit is.

Coupled with that, there is also an observation, sir, that our treasury has performed well in this quarter, generating treasury income of 302 crore, and at the same time recovery from the return of book is also very handsome, 1,109 crore. Overall other income is increased, which has offsetted some of these provisions, but whether we will continue to have the need for providing so high in the restructured book and standard asset also we are building more provision, and whether it is because of creating some buffers, or what is the reason for that?

Ajmera?

Yeah.

See, 375 crores we have provided for ECL.

That's what I wanted to know. Yeah,

Secondly, for the first time that DCCO, if the extension happens, then provision comes. There, we have a provision of around 50 crores.

These are the two major reasons, but one is as per regulatory guidelines. One is our, we have proactively provided 375 crores for the proposed ECL transition.

These are the two reasons. Provision-wise, because this slippage ratio has been contained, that is why the credit cost also has been contained.

Based on whatever is the impending requirement that we foresee, we are doing proactive provision.

Sir, one thing on the employee cost, 160 crore is more than the last quarter. Have you considered the impact of the revised labor code?

Ajmera, there also we have proactively provided 150 crores additional.

That is labor code, the higher gratuity burden?

No. relation with labor code, proactively we have done this provision of additional 150 crore.

The impact of the labor code, on the new labor code, on the gratuity, is yet to come, the effect and the contribution. कोई

impact ऐसे नहीं आएगा, क्योंकि जो वो बोल रहे हैं कि five year, one year, five years reduce करके one year, we do not have that kind of structure in the bank. We are 90 days we are not submitting any casual labor and other, and हमारे पास में कोई direct contract, मतलब contractual agencies है, we do not engage any casual labors directly.

We do not foresee any sizable or any impact at all.

Sir, the last one in this round is our government holding, अभी भी 89% है.

this last one only. चलेगा?

Sir, please.

Yeah. What happened?

Hello? There is silence.

Hello. Am I audible?

Please.

Yeah. I just have three questions.

You mentioned that we did 1,100 crore of recovery in Q3 FY26. can you give a number of how much recovery we can do in Q4 of FY26?

Q4 में, madam, I will tell you. In Q4, expected recovery and upgradation and recovery in technical write-off, it is 904 crore.

Total recovery and upgradation expected in Q4 is 904 crore.

Got it. You also mentioned that in CASA, NIM, cost to income, we have not achieved our stated guidance.

Do you foresee us achieving our stated guidance in Q4 and in overall FY26 also?

It may take time, actually. I can't assure by March 26 because there is pressure on margin due to rate cut, and though we are diversifying revenue sources and cost curtailment, we have taken several steps, but it may another two years to three years it would take to take it below 56%.

Right? Or you can add.

Madam, see, we are at 57.8% right now, and as sir is saying, because of the pressure on margins, Q1, it will have to be a gradual process through which we will be able to come down. Maybe 50 to 100 bps every year, that we will be able to bring down the cost to income ratio by.

For less than 50, it will take three years.

Minimum three years.

Less than 50, it will take three years.

Understood. Just last, it's just a clarification.

You mentioned that our credit book target is of 1,13,000 crore? 1,13,000?

That's the target, right? 125

corporate. 125 corporate, huh?

Corporate.

Okay. What is the overall target books for overall target credit book?

340. Total credit target 3,40,000 crore.

3,55,000. 3,40,000.

Okay,

okay, understood. Thank you so much.

Yeah. Hi, am I audible?

Yes, you are audible.

Good afternoon, sir. Congratulations for the good set of numbers.

My first question would be that going by your sequential growth in business, the corporate loan book has witnessed a substantial growth of 20% QoQ. Was this abnormal growth led by any particular end-sector, or it was broad-based?

It is broad-based, actually. Because you see, in corporate side, year-on-year growth is 23%, and we have given sanctions from head office in this year from different committees.

It is 1,17,000 crore. Different committees like MC, CEC committee headed by MD, ED, and CMD committee have approved, and from zonal level also, regional office level also committees have contributed towards this corporate credit business.

It is broad-based. It is not limited to any few players or any entities.

The reason for asking this question was because going by the general market, many of the sectors are not doing good, except auto and some of the consumer discretionary players. For that any particular sector?

Because the private capex is not growing that much, and at the time the government finances are under stress. Similarly, the government capex is also weak.

Demand for credit side, majorly the sectors where we entered, this is renewable energy sector, LRD, and also opportunity towards infrastructure, roadside also, and data center also. These are the emerging areas where we participated, and in corporate credit side we actually entered into those areas.

My second question would be when comparing our RAM advances growth with the industry growth rate, it is quite observable that our retail and agricultural segment is outperforming, while SME segment is lagging behind. Could you explain the drivers for each of these observations?

Retail, we have grown by 21%, looking to the opportunity available in our Indian economy. Agriculture also we have grown by 15%.

MSME we have grown by 16%. You rightly said by you that MSME, we have actually whatever we are aspiring to grow, it didn't match that.

We have initiated steps that I would like to share with you. We have identified 225 MSME intensive branches, and in the active clusters, and we have designed cluster-specific products.

Digital side also, a lot of digital journeys for financing small value customers also, that is also there. With this, I am sure, and outreach program also scheduled in the first week of February, we are going to conduct MSME outreach program at 90-plus centers in the country.

With all these enablement, I am sure that our growth in MSME sector would be better in this quarter four. Yeah,

also we have one of the best CASA franchises among the PSU banks. The time when the delta between the savings deposit rate and the fresh term deposit rate is reducing, what I believe is we should be able to grow our savings book more strongly.

The CASA growth has reduced this quarter. What could be the reason for a weaker growth?

CASA we have grown by 8.43%, 4-5%. What I understand, CASA ratio also we have improved from previous quarter.

47.13% is there, previous quarter it was 46.89%. There I believe, and also I will tell you, out of 4,567 branches, approximately 3,000 branches are maintaining CASA above 50%.

Northern side, central side, eastern side, northeastern side, CASA ranging from 52% to 55%. Only southern side and western side our CASA ratio is 38%.

To build upon our these capabilities, we have launched Aaghaz campaign, where the product which we have designed for all the different segments of the customers, like pensioners, defense personnel, police personnel, housewives, rare-specific current accounts, number of products we have launched now. With this campaign we are expecting good mobilization under CASA segment.

This is our strong area and we are building upon our strong area. Technology is also playing an important role.

Every branch and marketing officers are having tab. Through tab, with pleasant onboarding experience we are giving to our customers, and through mobile app, that is also super app, our Cent mobile app.

Through that also we are giving them superior banking experience, providing them almost all the banking services on click basis. In this, we are sure that we will not only maintain but improve our CASA ratio in Q4.

Sir,

my last question would be, with repricing of older term deposits expected to start from the current quarter, as the first rate cut happened in March 2025. What is the range do you foresee at which the cost of deposits should settle around in upcoming 12 months?

See, the rate cut was announced from February 25, and in phases 125 bps of rate cuts have been announced by Reserve Bank. As the transmission in repo-based loans will happen instantly, whereas the time deposit rates will take some lag effect.

We expect that by June 2026 the transmission should happen, because now our maturity on an average monthly basis is somewhere around 18,000-19,000 crores of time deposits. We expect that by June, when the transmission is complete, our cost of deposit should further come down to around 4.65-4.70 kind of a range.

Because there will be another driving factor. Through this CASA campaign, our CASA growth also will be there.

That will be an additional lever through which we will be able to bring down our cost of deposits.

Considering both the drivers, can it come down below 4.5? Currently it resides around 4.85.

Let's say 4.7 is the rate we are penciling in with the repricing.

It can be in the range of 4.5-4.55.

Understood. Thank you.

All the best for the upcoming results.

Thank you.

Congratulations on your good number. Sir, I just wanted to understand your overall provisioning.

375 crores is the provisioning that we have done for ECL. What was the 150 crores proactively that the company has provided for?

Also, sir, overall your credit cost, no doubt it is below 1% and below the guided range, but sequentially it has gone up from 0.22% to 0.38%. Do you expect to come back to the 0.22% or will it be, as it is, etc.?

If you can throw some light on this.

One is your voice was not clear, I could hear the first part. 375 crores is ECL provision, 150 crores proactively we have provided for the terminal dues of the employees that we have done for this quarter.

What is the other thing you are asking?

On overall credit cost, it is on a sequential basis, it has a little bit elevated from 0.22% to 0.38%. What could be the reason for this?

Additional provisioning? At what level do you expect them to be?

Because I know your guided for below 1%, but on sequential basis it just gone relatively up.

Credit cost, our guidance for slippage ratio is less than 0.35% every quarter. Now what happens if I have to keep my net NPA at the same level, even though as per IRAC norms I am required to make a provision of 15% only, but to keep the net NPA at the same level I will have to provide for almost 100%.

Because then only my net NPA would be at the same level or slightly lesser because of the higher income. Depending upon the slippages, the credit cost may vary, but it is within the range of the market guidance that we have given.

Thanks. Sir, you said that the cost of deposit repricing and the impact would be in Q2, Q3.

Just wanted to have a little bit of knowledge on your net interest margin, because 3% was the target, for FY26 you are already at 2.96%, and some impact of the overall rate cut would happen in Q4 itself. Do you expect the NIM to go above 3%?

Or will it be below 3%?

We are going to maintain 3% guidance which we have given to the market, and for that, to maintain that, rate hike 125 basis point was cut, and as we are having more than 60% loan book linked with repo, immediately this was transferred to the customer. Deposit repricing rightly said by you comes with lag, and by Q1 next year most of those deposits will be repriced.

Even after that, that pressure on margin is there, but for maintaining that NIM we have already diversified. As I told you in earlier answers, CASA mobilization we have started very strategically, and also REM advances where we are having particularly MSME and agriculture, good margin we are having.

We are focusing on those by actually opening agri-intensive and MSME-intensive branches in their clusters, focusing upon high-yielding agriculture infra finance, also godown construction site, and the opportunity available in these segments where things are actually really emerging, we are entering into those segments where good margins we are expecting, because on consistent basis, on weekly basis we are conducting credit approval committees meeting also, disbursements are also happening. Average credit part which plays a very important role towards actually interest management, income management.

With all these diversification, we are sure that our margins would be maintained and NIM will be successfully maintained at least up to 3%.

Sir. What is asking, just wanted to understand, because I said that the overall MSME growth has not been, as much as you anticipated.

What we are hearing is last, during this Q3 towards the final, and in the month of December the overall demand in MSME has seen improvement. Has that been the case?

If you could throw some light on the overall demand condition for MSME side.

I understand you want to know whether the demand has gone up in Q3 under MSME, right?

Yes, sir. That gives you confidence that in Q4 MSME would be good.

Basically MSME as a sector नहीं है कि जिसमें कोई corporate type का seasonal demand हो रहा है. MSME is only how best we are able to finance, how best we are able to find out.

As Sarath pointed out that with the outreach programs that we started in the start of Q3, now in Q4 also we will continue, and along with that improved product offerings are there. With that we definitely expect that the Q4 growth would be better.

We are actually, I will supplement what Mukulji has told. We have identified 225 MSME-intensive branches, and those branches are in the clusters, active clusters of the different activities, and we have also designed specific products for them, which is very, very competitive and supportive.

Apart from that advisory services like hand-holding, providing them training to the entrepreneurs, and also our own people who are posted in those branches, also we are providing them specialized training that is going on actually. In this quarter we'll get benefit of all these initiatives which we have taken in MSME financing.

In that way I can tell you that current quarter, Q4, actually we'll have good performance under the MSME. Okay,

okay, sir. Thank you for answering my questions, sir.

Thank you, and have a nice day. Thank you very much.

Thank you.

Next question, please.

Hi, team, good evening. Two questions to begin with.

Firstly, your borrowings have gone up quite sharply QOQ. What is the reason for that, and what is the cost of these incremental borrowings?

See, even though securities are liquid securities in which we have invested, but since they are carrying better coupon, what we are doing is we are borrowing against those securities at around 5.15-5.20 types. Those funds we are utilizing towards funding, and that is why you see our CD ratio has gone up to 72

percent. Understood, sir.

There was a fairly large recovery from TW accounts in this quarter. Was there any lumpy account here?

Yes. The major recovery has happened in some accounts, the highest being in Go Airlines with 515 crores.

Thereafter we have received 90.79 crores in one account called ALM Industries, 80.37 crores in ALM Food Products, 52.32 crores in Al Nafees. Like that we have many accounts, and I can tell you that recovery in accounts above one crore is 890.56 crores, and the remaining is below one crore,

30 crore is below. Total is 1,021 crores.

Understood, sir. Sir, just a couple more questions.

You gave some number that roughly about 18-19,000 crore of term deposits get repriced. You said every quarter or every month?

Every month.

Because we have a 2,33,000 crore kind of term deposit book.

Understood. Sir, lastly, can you share guidance on the yield on advances and cost of deposits in the next few quarters?

Current yield on advances is 8.15, and hopefully we will maintain this 8.15 in Q4. Another, what was the cost?

Cost income will come down.

It would come down.

Understood, sir. Thank you.

Thank you.

Congratulations to team Central Bank and management for the excellent performance and lots of guidance in the press as well as in the presentation and Q&A. Sir, my first question is, in the interview and the commentary right now you said your growth path is on a very positive track.

You were expecting 72 percent CD ratio at March 26, whereas you have already reached 26 numbers in this quarter. You have already indicated the loan growth number based on what you are expecting to have sanction, and what is the kind of disbursement likely to happen.

Second thing, can you indicate what kind of ROE, NIM you already guided you will achieve 3 percent, ROE, ROA? Is your balance in RAM, which you have indicated again in interviews, would be much better compared to where we stand today in terms of corporate book is growing and RAM would stabilize?

ROE is 14.47 percent, up by 151 basis point, and certainly it will increase, I'm sure, in this quarter also. ROA will maintain above one, as we have given guidance to the market.

It is going to be above one. Towards RAM side, it is our priority, and Central Bank of India is having strength in this segment.

Earlier also, you see, based upon learnings from what we actually learned during PCA period and after that, corporate lending, we are very, actually I will say, very selective, only AAA, and due to lesser risk appetite. RAM side, actually really the way we have identified the potential centers, branches, active clusters, dedicated products, and technology integrating with our business model.

I am sure the guidance which we have given to RAM segment, 65-35 ratio, plus minus 5 percent, we have achieved this quarter also, and next quarter I am confident that it would be maintained. Anything else?

Sir, your commentary is very positive.

CD ratio also, to answer your question, current quarter we have reached to 72 percent. Certainly, as we aspire to improve our advances and deposit, target advances were 3,40,000 crore and deposit 4,60,000 crore.

I expect that CD ratio would be in the range of 73-73.5. We will reach easily to that level.

Basically speak less and achieve more, that's the mantra which you are guiding to Central Bank. That's what I figure out from your interviews and our commentary right now.

I am happy to hear that. Sir, PFC Bank is a flavor of the season right now in the capital market when times are challenging led by the world.

You have excellent franchisee, brand image, the 115 years put into the bank's image, customer base and CASA is well supportive, you now have insurance arm. You are likely to spend huge amount on technology if that number can be spelled out.

What we will do is differentiated from the market and in our brand image to make our bank bigger and stronger, including your 10 lakh crore aspiration of 28, which is very feasible and achievable based on the numbers what you are speaking for.

See, really we are blessed that we are 114-year-old public sector bank and having very rich legacy and rich culture. We are proud of that, and also we are having 34,000 plus employees, and average age of employees 38 years, and that makes a very good combination of senior experienced person and the young persons.

It makes a very good combination, and aspirations which you are actually expecting from Central Bank of India regarding in terms of visibility and brand image, we have taken several steps in that direction: digital media, also social media handles, channels, and also several products, the digital products adoption level are increasing. For that purpose also campaign we have started, digital marketing officer, one new concept we have identified, and with thorough branding all the nodal officer at branches, regional office, zonal office and head office level, we are integrating them towards a structured way, so that we can showcase our potential while giving interview, people still outside people understand that Central Bank of India is a traditional public sector bank.

Once we discuss with them the features and capability of technology, which we have built upon, then they understand that is need. I understand there is a need to highlight all these things and market it properly.

In a very structured and strategic way we are planning to actually improve visibility of our bank, and in that direction going to media, giving interviews, meeting with the investor. These are the part of our strategy.

Also we are having lead bank responsibilities at 53 places, 53 districts. We are also identifying them as potential brand ambassador of Central Bank of India.

We are organizing their two-three days training program where we are going to groom them for a better brand ambassador for Central Bank of India. In that way we are leveraging all the opportunities and scope available in our organization to showcase our strength to the Indian banking ecosystem.

Thank you.

Sir, second thing you have spoken about core strength of not only management employees and the technology which you are adopting. The consumer experience likely to get better and the bank gets support.

Second thing I make out from your statement in the press articles as well as in your commentary that the private sector capex is on a path of recovery compared to public sector. Can I take your replies as that our lending which is happening today is more toward private sector compared to public sector entities?

See, we are having a very good customer base and our own clientele banking with us for fifth generation, fourth generation. Likewise we are meeting.

We are not a large player in corporate sector looking to the potential players like larger bank and all. In that way I don't find any challenge our group because our base size is very low.

The growth which we aspire, looking to our potential available in the Indian market, we are getting ample scope and ample proposals for actually financing and building our own book in those segments. There is absolutely no challenge we are finding competing with private sector and all because we are having our own client base and we are getting good proposal in those, from those channels.

If I conclude my question, sir, we are only climbing up on all aspects and we have hit the bottom in respect of margins, profits, and we look up only quarter on quarter. Am I to assume that way?

Would be a better way to take it?

Bottom line will be maintained, as I assured you, because our composition of loan book, you are aware, it is more than 60% loan book is repo linked base. We are more impacted.

You must have seen in previous quarter there was a reduction of 59 basis points, steepest actually impact. We have initiated several steps to maintain by launching CASA campaign, by designing product and also designing the structure, similarly in REM as I discussed with you, and also diversifying different resources, cost curtailment.

With all these strategies I can assure market that our profitability and all these things, you will see marked improvement in coming quarter and also coming year.

I'll just squeeze in one last question. Central Bank future Generali is very visible, the Central Bank Future Generali insurance arm, very visible in media as well as other places.

Has it started rewarding where our investment is concerned?

See, such kind of business actually takes time to achieve breakeven and all. It is just first year and they have given from insurance we have got 42 crore, but what was the contribution of Generali, that means it is combined income of insurance, 42 crore.

Lot of hope is there because Generali being a global company having expertise in products and also delivery side and good services side, and Central Bank of India having countrywide presence and having good trust of public and customers in our franchisee, and we are under obligation to provide all the banking services and requirement of customers under one roof. In that way this association is going to be complementary, and coming years we will certainly get good benefit out of this association.

Congratulations, best wishes to Central Bank team for the year to come.

Thank you, sir.

Congratulations to the management team on delivering another strong quarter with over 35.21% YoY growth in consolidated profits and further improvement is seen in asset quality. My first question is going with 19.5% credit growth and the capital adequacy ratio is now trading towards 16%.

At what growth rate do we start consuming capital meaningfully and should we expect any equity dilution for raising Tier 1 or Tier 2 capital in FY26 and 27?

To meet our target, desired target in Q4, this capital is enough, sufficient to meet this growth target, whatever we are aspiring, 3,40,000 crore is the credit advances target, easily we will achieve. There is no need of going to market either for Tier 1 capital.

Okay. ROA is now around 1% and you have given a target of 1%.

Is this the norm for a PSU bank like yours? Or what are the key levers to sustain or improve ROA above 1%?

One, recovery in credit

cost, treatment space. ROA we have given guidance it would be above 1% and certainly the profitability side which we are focusing upon this time also you have seen 1,263 crore was the profit and net profit of the full year is going to be 4,000 plus crore.

That will, I am sure that with this ROA we will maintain 1 or above 1, with guidance we have given. As I have told answering different questions that CASA is our priority, REM is our priority, and technology adoption is our priority, cost reduction is priority.

With all these initiatives and also future, General Insurance you have seen, from all these segments we have scope to get good return, whatever we have invested in all these initiatives and all. I am sure we will be able to maintain ROA 1 or above 1.

Sir. Then one general question.

There has been discussion in the market about potentially raising the foreign investment cap in PSU banks from current 20%. Government has clarified it is not considering any increase in this cap.

We have seen around more than 6.5 billion dollar inflow in private banks by the foreign institutions. My next question is, how Central Bank is going to attract long-term investment from the foreign capital institutions under the current ownership?

Are we seeing any opening of further increase in this cap in PSU banks?

See, as I told you in current quarter our capital is enough for growth, and all these things depends upon several approvals and several things. I will not like to comment on this aspect.

Sir. Thank you, sir.

Thank you, team.

Hi, sir. Thank you for the follow-up.

Two questions, sir. Can you share what is the blended yield on your corporate loan book?

That is one. Secondly, you indicated earlier in the call that you expect to maintain your yield on advances around the current level.

What gives you the hope that you can maintain it? Because the corporate has been cut in December, the EBLR book will get repriced.

The impact will be felt in the next quarter. What gives you the hope that you can maintain it?

This blended yield on corporate loan I'll give you offline. As far as the yield on advances and our belief that we will be able to maintain, two things.

One is because the CD ratio has improved. Definitely that should help us, because we were at 66% when rate cut was announced, and from 66% we have now graduated to 72%.

Going forward we expect to be around 73-74%. That in itself would help us ensure that our yield on advances remains more or less in the same line.

Sir. Understood.

Thank you.

Good evening, sir. Am I audible?

Yes, you are audible.

My question is, I have noted that gross NPA ratio in agri and MSME sector remains elevated. Could you elaborate what is causing the stress within these sectors?

See, agri and MSME both NPA is approximately 5%. Still if I compare with other players it is actually not that much elevated side, looking to the smaller ticket size and number of impact by several factors playing in the catchment area, this is the stress.

No any, I will say, significant impact to our poor asset quality or anything I can tell you in this segment. In agriculture, KCC is the major contributor to our slippages, and in MSME segment government-sponsored schemes like MUDRA and also some other ticket size, general MSME scheme, we found some increased slippages.

We have corrected it through policy modification and all. In that way we are conscious of this fact and when we do retail business, certainly there are more chances of slippages, particularly in this unorganized sector, if I say agriculture, MSME, there such kind of slippages happen.

Central Bank of India has initiated integrated call center, Feet-on-street things are there, with technology propensity recovery models are in place, and with all these bots there through which call centers are integrated. With all these integrated approach we are maintaining good asset quality, and also one thing I would like to mention here: what we have implemented now, improvement in credit underwriting quality.

We have implemented one technological solution. Any proposal of retail, agriculture, MSME will first be filtered through this technology Go-No-Go app, and then only this will go to the loan origination system for processing.

That initial level selection level itself we are screening out any potential account which can become bad. What I can assure you that with all these technological interventions at entry level, credit underwriting level, and also monitoring level, end-to-end we have initiated several steps to keep our asset healthy, and we can handle large number of assets at big scale also with all these technological capabilities, enabled with human also in the loop.

In that way there is no such challenge to our asset quality in agriculture and MSME in coming quarters.

One follow-up question on CD ratio, it has improved to around 72%, and given that there is tight liquidity condition and there are pressure on raising deposits, how much additional headroom does management see to increase the CD ratio, without raising the marginal cost of funds? How is the bank balancing growth with liability side sustainability?

See, the target which we have fixed for this quarter, March Q4 quarter, our CD ratio would be approximately 73 to 74%. We don't find any major challenge to our resources side.

Our CD ratio is still 72, still scope is there, and liquidity coverage ratio, if you can see, it is 203 also. That also sufficient leverage we are having, and the initiatives which we have taken towards CASA mobilization campaign, Aaghaz, which I already talked about, with structured approach towards product, process and technology, and grooming people for taking it forward.

Resources is not going to be a challenge, and credit side already I have answered your question that good proposals we are getting. Our CD ratio will certainly improve in Q4, and approximately it would be 73

to 74. Last question, as you mentioned that we have made 375 crore provisioning, ECL provisioning in this quarter.

Could you share, what is the expected provision which we could see in the next few quarters?

See, ECL estimate. We are having one of the highest provision coverage ratio, 96.89, you are seeing.

In that way the asset quality is good, credit underwriting is good, provision already done, you see net NPAs only 1,414 crore. With that base we are prepared to enter into the ECL, and already provision till now we have done 1,525 crore, which includes 375 crore which we did in this quarter.

Total estimation is rupees 4,200 crore. So 2,675 crore more approximately we have to make provision for achieving this target.

By 1st April 2027, I am sure with the profitability we are going to make very easily we will migrate to ECL. We will not have much challenge in achieving this target.

Thank you, sir, and congratulations on the good set of numbers. Thank you,

thank you.

Thank you, and really it was good interaction. Again, as concluding remark, I want to assure markets, the guidance which we have given to the market in this quarter, we will achieve that.

The kind of initiatives towards not only towards business numbers, but efficiency parameters are also our priority. In that side, customer service excellence is the Mool Mantra.

In that direction, providing handholding, training to our frontline officers is also one priority. In technology side also, several things are there.

We are working towards improving adoption of these technological capabilities which our bank has created. With that, we are having 34,000-plus Centralites, and we are handholding them, and you know credit deposit ratio is big challenge for us, 1,000 credit officers are being prepared, so that we have...

they are being groomed and trained. Similarly, 90 days focused credit training program we are doing, and we are preparing our people, as I told LDMs, and also different set of officers we are providing them handholding them good training so that they can take this organization forward in all the terms, in technology, process simplification, all these things we are doing.

With this, I can assure you the guidance which we have given to the market, we are sure and confident that we will achieve that. Thanks for your support, and also I am very happy that we got gave us opportunity to place our strategy and numbers in front of you.

Thank you. All the best.