Ladies and gentlemen, good day, and welcome to Central Bank of India Limited, Q2 FY25 earnings conference call, hosted by Antique Stock Broking Limited. As a reminder, all participants' line will be in the listen-only mode, and there will be an opportunity for you to ask a question after the presentation concludes. Should you need any assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Raju Barnawal from Antique Stock Broking Limited. Thank you, and over to you, sir.
Thank you, and good afternoon, everyone, and thank you for joining post-result conference call of Central Bank of India. From the senior management side, today we have with us, Shri M. V. Rao, MD and CEO, Shri Vivek Wahi, Executive Director, Shri M. V. Murali Krishna, sir, Executive Director, Shri Mahendra Dohare, Executive Director, and Mr. Mukul Dandige, Chief Financial Officer. Now, without any further delay, I hand over the call to MD, sir, for his opening remarks, post which we will open the floor for the Q&A. Thank you, and over to you, sir.
Thank you. Very good afternoon to all the participants. Before sharing the financials of this quarter, let me share the good news that Bank has received the CCI approval to acquire 25.18% of equity shares in the life insurance division of Future Generali, and 24.91% in the non-life. Once this process completes, then Bank will be having two additional JVs along with the existing two JVs, which we have for the home finance and financials. So now, just I would like to give the highlights of this September quarter's financials, and then it is followed by our CFO will be giving a detailed presentation. I think by this time, you must have received our presentation, which is already uploaded onto the website.
Now, this, our Bank's total business, which has grown 7.07%, now it stands at 6.44 lakh crore. And then total deposits at 3.91 lakh crores, where CASA stands at 1.91 lakh crores, which is 48.93% of the total deposits. And the gross advances grew by 9.48%, which stands at 2.52 lakh crore. And the CD ratio, that is, credit deposit ratio, improved to 64.71. Earlier in the previous September of 2023, it was 62.5 around. Now, gross NPA, it stands at 4.59, and net NPA at 0.69.
Provision coverage ratio, which is 96.31%, and net profit has grown by 50.91%. It stands at 913 crore. Let me share with you, this is the 14th straight quarter which the Bank is recording a net profit. Net interest income has increased to 3,410 crores, and then net interest margin, it stands at 3.44% for this September thirtieth. Return on assets is improved to 0.85%. Return on equity improved to 3.19%. CRAR, that is capital adequacy ratio, now it stands at 16.27%, where Tier 1 is 14.01%. So there is appreciable increase and good set of numbers as far as the financials are concerned. For all the further details, our CFO will be explaining.
Yeah, Mukul, yeah.
Thank you, sir. So, as far as said, net profit-wise, last year, three quarters, whatever the net profit we had earned, we have been able to surpass that figure in the first two quarters, that is the first H1 of this financial year. We have recorded INR 1,793 crores of net profit during the H1, as compared to INR 1,741 crores of net profit for the three quarters up to Q3 during the last financial year. The standalone headline numbers, if we compare, the yield on advances has increased by 22 basis points on YOY, and it is now 8.84%. Yield on investment has improved to 6.93%, an increase of 38 basis points.
The cost of deposit has increased only by 11 basis points, and it is now at 4.71%. We continue to hold on to our share of CASA deposits. It is still in excess of 48%. The NIM increased to 3.44%. The ROE on an annualized basis is 12.76%. The credit cost, we have been able to bring it down now to 0.56, with the net NPA coming down to 0.69 during this quarter. The slippage ratio also has been controlled, and now the slippage ratio is at 0.38% for this quarter. The liquidity coverage ratio is at 214.19%, so it is a very comfortable liquidity still bank is enjoying. And the NSFR is at 146.69%.
The EPS is at 1.05, and the ROA has improved to 0.85. So we are on our track to make it at 1%. If we see the total interest income has registered a YOY growth of 11.58% to INR 8,202 crores. The total interest expenses have increased by 10.85% to INR 4,792 crores. The net interest income has increased by 12.62%, and it is now at INR 3,410 crores. The total income has shown a growth of 17.08%, and it stands at INR 9,849 crores.
The total expenditure on the other side has increased by 11.65% to INR 7,684 crores, and therefore, the operating profit has improved by handsome amount of 41.50% to INR 2,165 crores. The provisions are at INR 1,252 crores, and the net profit has shown an improvement of 50.91%, and it stands at INR 913 crores. If we come to the breakup of interest income, the interest on advances has shown a growth by 14.18%, and it stands at INR 5,402 crores. The interest on investments has also grown by 9.13%, and it is at INR 2,547 crores now.
There is a degrowth in other income, which was the interest income that we received on the income tax refund by around INR 210 crore. The non-interest income, which majorly comprises of recovery and write-off and other fee-based income, there also there is a very sizable improvement, and on a YOY basis, there is a growth of 55.23%, and on QOQ basis also, there is a growth of 41.37%, and the total non-interest income now stands at INR 1,647 crore, with recovery and write-off comprising INR 560 crore out of this.
The breakup of total expenses is that interest expenses have improved by 10.85%, and the total interest expenses were at 4,792 crores, out of which interest paid on deposit is 4,530 crores, growth of 8.43%, and other interest was at 262 crores. The staff cost was 1,827 crores, a growth of 27.14%, and other operating expenses showed a degrowth of 5.08% and stood at 1,065 crores. As far as the provisions are concerned, the provisions for NPA were at 340 crores, 82% less than the last year, same period. The standard asset to be made a provision of 70 crores.
The income tax provisions were at INR 654 crores. On a prudence basis, the bank has made INR 250 crores additional provision on standard restructured accounts, and therefore, the total provisions were at INR 1,252 crores, and the net profit was at INR 913 crores. The asset quality, as MD. sir has said, the gross NPA is at 4.59%, and the net NPA, we have been able to bring it down to 0.69%. In absolute number terms, the net NPA is at INR 1,674 crores. The sector-wise NPA, if we see, retail is at only 0.12%, agriculture and allied is at 1.62%, MSME at 1.34%, and corporate net NPA is 0.15% only.
Our PCR provision coverage ratio was at 96.31%. The slippage ratio, as I told, is now at 0.3038%, and the credit cost is at 0.56%. The restructured book is at INR 5,808 crore. However, INR 1,571 crore worth of accounts are common in the restructured book also, and they are appearing in the special mention accounts also. As far as the SMA position is concerned, the percentage of special mention accounts to total advances has come down on a YOY basis from 6.69% to 6.10%, and the amount is INR 15,425 crore, out of which the amount under SMA-2 is only INR 3,014 crore and SMA-1 is at INR 1,957 crore.
The capital ratios, the CRAR stands at 16.27%, with Tier 1, CET1 at 14.01%. The leverage is at 5.88%. The business across the board, total business, improved by 7.07%, and now it stands at INR 6,44,858 crore. The total deposits grew at 5.57%. CASA deposits grew at 4.61%, and now they stand at INR 1,91,270 crore. The CASA share continues to be at 48.93%, which is one of the best in the industry. The RAM advances grew at 19.95% and stand at INR 1,82,205 crore. The CD ratio improved to 64.71.
Now, within RAM also, if we see, the retail grew at 15.48%, and it stands at INR 76,373 crores. The agriculture showed a growth of 17.34%, and it is at INR 50,280 crores, and MSME has shown a robust growth of 29.45%, and it stands at INR 55,552 crores. The risk-weighted assets, still one of the lowest in the industry, at INR 1,67,998. There is a degrowth in the corporate loan book, but that was a conscious decision that the bank took. The corporate group book has degrown by 10.61%, and it stands at INR 70,739 crores.
As far as the retail segment breakup is concerned, retail constitutes 30.19% of total advances, and within that, housing loans constitute 63.06%, and it has shown a growth of 18.51% on YOY. Education loan has shown a growth of 28.95%. The auto loan has shown a growth of 15.18% and personal loan at 10.35%. The rated standard advances continue to attract our attention, and the total AA A, A, A A, and A book and BB B book constitutes 63,365 crores. The sanctions and outstanding and co-lending are very robust. We have been able to achieve all the mandated targets under the priority sector.
Investment book continues to give us very, very good profit, and the yield has improved to 6.93%, and if we take the trading profit also, then the yield has topped 7.76% now. So these were the basic highlights of the performance for the Q2. Now, with the permission of MD, sir, we will.
Yeah, we can open it for Q&A.
Okay, sir. Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touchtone telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use the handset while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. So we have the first question from the line of Mr. Ashok Ajmera from Ajcon Global. Please go ahead, sir.
Thank you for giving me this opportunity, and compliments to Rao sir and the entire team of the Central Bank of India for yet another very good quarter of good set of numbers. One of the, I think, the highest profitability in the recent time, and consecutive profitability for last, I think, fourteen, fifteen, fourteen quarters or so. Having said that, I got a few observations and some concerns which needs to be addressed. So sir, my first is on the advances growth, the credit growth. So I think the growth is absolutely muted, as against two lakh fifty-one thousand crore in the March, now it is two lakh fifty-two thousand crore, if you take the entire six months as on today.
And I mean, the similar story in the net credit also. So credit wise, there is hardly any growth. So first is that, how do we plan to achieve our targeted credit growth in the financial year, now two thousand twenty-five? Based on the sanction pipeline and the projects and applications are under sanction and processes, and what is your target for that, and how do we plan to achieve this thing? So that is on my first questions are on the credit growth, the business growth.
Yeah. Thank you. Thank you, Ajmera sir. Really, you have asked a very pertinent question. As far as this, the credit growth is concerned, if you see the growth in our RAM portfolio, which is very, very robust, and whatever that dip that has come is on the corporate loan book. This is very conscious decision because, as we experiencing, the rate of interest, you know, from the corporate side, what they are demanding, and we do not want to sacrifice the NIM. So with obvious, where without any credit cost from my investment side, I am getting much more than what these corporate credit borrowers were asking rate of interest. So that was a conscious decision taken by the bank. That's why there is a dip of almost seven thousand crores in the corporate loan book.
Always, it was a very short term, but nonetheless, we were not interested to take up at a low cost. So it is only to protect the NIM of the bank that we took this decision not to increase the corporate loan book. That's why there is a dip of seven thousand.
Okay, sir. No, sir, so now maybe going forward from the entire FY 2025 financial year, where do we see the credit growth in percentage terms vis-a-vis March 2024?
See, we are conscious of the bottom line now... protecting the bottom line, the way we are intended to grow, that depends upon the market opportunity as well as the, you know, rating of the accounts, where we can trade off between the credit risk weights and rating of the accounts with the rate of interest. So, what the projection we would like to make now is bottom line will be protected, and then we will be eyeing for enhancing the bottom line rather than, you know, eyeing for the top line.
So no, no, no, no growth target, sir? 10%, 12%, 15%.
Hey, we have a growth target. Already that, for a year we have given 12, is the floor and 14 is the upper limit for the credit growth.
You are maintaining the same?
That we will continue to maintain. Depending upon the opportunities, we will be there, but at the same time, just to increase the trade growth to reach the percentages, we are not going to sacrifice the bottom line.
Sir, point well taken, sir. Sir, my second question was on the standard restructured accounts. Sir, we have seen that the provision of INR 229 crore has been made. So, as I understand, our total standard restructured book is around INR 5,800 crore something, which includes COVID standard restructured also. So what is the total overall provision we are holding, sir, on the total standard restructured book?
See, these categories comprise three. One is the restructuring done in terms of the RBI, earlier circular of two thousand seventeen, eighteen, nineteen.
Yes.
So there, the provision held is 5%. Then under the, COVID, this one, there were two sets, 10%, and the accounts which had, already slipped, before the restructuring was undertaken, there the provision was to be maintained. So we have, 15% provision in, in those accounts. So put together roughly 5,808, we can, safely say that it, it could be around 11%-12% provision that we are holding. Now, on a prudent basis, we have made INR 250 crore additional provision. This, these accounts will be also ECL compliant. I mean, where we need to put in additional provision as per ECL.
So altogether, we are holding about INR 850-900 crore, isn't it, sir?
Yes.
Including this INR 229 crores?
Yes. 250, right?
Yeah. I mean, yeah, 250 crore. Sir, there is a very good income from the treasury operations in this quarter, which has been booked, and a very smart recovery from the written-off account, also I think 560 crore. So sir, going forward, can we take this as a number for the remaining six months also, a good set of numbers so as to judge the future profitability for the whole of this two thousand and twenty-five? Do we have something more in the pipeline from the written-off account to recover?
Regarding treasury, we are very much hopeful that in this decreasing rate scenario, of course, our regulator is yet to cut rates, but we are very hopeful. It is almost priced in, but still we are hopeful that till March there will be around two rate cuts expected. So we are hopeful that same scenario should continue and treasury should give us a good yield. As MD sir has rightly said, that type of yield we were not getting in even in our public sector advances.
Yeah.
So that is there. And in write-off accounts, our colleague, Mr. Dohare, our ED colleague, will show some light.
Yes. Yes, sir. Yeah, Dohare, sir. Yeah.
Account also, we expect the similar numbers in the, on the rest of the financial year, because there are few accounts are there and which are in the pipeline, and we are very hopeful to get the good recoveries in these accounts.
Sir, there was a very good news, which we read and you also announced, is that our stake taking, a sizable stake in Future Generali, both in the life and general. So, going forward, sir, I mean, what kind of capital infusion, number one, is the acquisition cost, and secondly, how optimistic we are about this investment, going forward in future?
Yeah, as far as the acquisition is concerned, it is an open bidding process which has happened in the NCLT, and we were able to get 508 crores. That is our acquisition. And then, going forward, you know very well the bancassurance contributions to our PNL. Only with the distribution channels, what we have, it is almost covering 100 and-
Twenty crores.
INR 120 crores.
Okay.
So that is the kitty that is already there. And going forward, we see a lot of synergies here. Let us wait and watch for the next move.
Sure. Sir, one small data point on the miscellaneous income in this quarter has rapidly grown to INR 137 crores. So is there any component of INR 70-80 crore, INR 60-70 crore coming from somewhere in the miscellaneous income in this quarter?
... you know, from generally INR 50 crore, 55, 60 crore, it has gone up to INR 137 crore. No?
No, there is no IT refund.
Yeah, is it? Total other income is INR 1,647 crore. Out of that, commission brokerage is INR 119 crores, on which LC/BG/DD commission is INR 49 crore, government business is INR 26 crore, bancassurance is INR 44 crore. Service charges is INR 379 crore. Other miscellaneous. Okay, this we have here.
One second.
Yeah, yeah. Yes, sir. Below the service charges.
Yeah. It is a good sizable, from the, you take to the bottom line, you know? And... Yeah, once, we find it-
I'll give you the details.
Yeah, yeah. No, no problem, sir. No problem. I'll, I'll take it later. No issue. Thank you very much, sir, in this round, and if time permits, I will come back again. Thank you, and all the best.
Thank you. Ladies and gentlemen, you may press Star and One to ask a question. We now have the next question from the line of Mr. Sushil Choksey from Indus Equity Advisors. Please go ahead, sir.
Congratulations to Team Central Bank for excellent performance and a good direction. Sir, where CASA issues are concerned, I see you have a great advantage in the current banking system led by our CASA and maybe of the opportunities, so where do you see in next six months we will end up?
Yeah, our guidance is to reach 70%. That, definitely, we, our endeavor is to reach 70, and we are quite confident by this financial year ending, we will reach at 70.
So what would be unveiled limits and what is in pipeline visibility from this quarter perspective?
Pipeline is to be used. Almost INR 12,800 crores is in the pipeline. That is there, but all these, many of them are the term loans where, you know, disbursement happens in stages, and entire 12,800 cannot be drawn by March 2025. So as far as reaching the 70% CD ratio, we are confident. No issue.
Are you seeing any green shoots from private sector or at least it is mainly public sector borrowers?
Yeah, that is a trade-off, what we are always doing with the, you know, rating of the account and then, rate of interest.
Okay.
So we are trading off. Yeah.
The low-yielding ones you are not taking up, but the high-yielding ones, what you are taking up? That's what is my assumption.
No, no. Optimization is happening. It is not that if someone offers a nine point five and, you know, we will be very happy to take A A rated this one at eight. So-
Sir, what my-
We will see how it comes out, you know?
No, no. What I meant is you have conscious of quality and the sector, what you're choosing, with the right mix.
Yeah. Yeah. Exactly.
So you are being prudent on the subject of lending, that I understand. Sir, now, the best news which we got in terms of acquisition of Future Generali Insurance.
Yeah.
And I know that you have been conservative in speaking, besides the COC, at what rate and things like that, and what revenue you are able to generate. Sir, can you throw some light on a picture, how the synergies between both will work? How will the bank benefit, and your investment will justify multifold over a period of time?
No, I do not want to tell all those things. Just I would like to give a small insights into this particular business, because where we see a lot of synergy, we have. Though we have the eight crore borrower profile, about eight crore customer profiles, almost five point six crore is the active customers we have. When we are analyzing this, you know, insurance, it is only penetration is point six one. Just you can imagine, you know, what is the cake that is available from my own customer, active customer profile. So just I'm leaving at that point.
Regarding the asset insurance, which is primarily driven by our asset portfolio and then new disbursements and new customers what we acquire, from our analysis, we see that though there is no focus, it is only a 20-25% of the assets are getting insured through the banker channels. Another 75% is being done by the other channels. Just I'm giving the insights of the facts which are existing on my record. Just you can extrapolate or think what is going to happen in future once we have this arrangement in place.
So the existing customer, Future Generali, in some manufacturing related activities. My experience about the company is excellent.
Yeah.
Will the system between our end and Future Generali, where this cross sell and would be integrated technologically or only this referral work will work?
See, these are two separate things. One is, right now, I am an investor. Once that acquisition happens, it becomes a JV. That is one part. Second is, as per the regulatory guidelines, distribution channels which are available to all the partners with whom we have the bancassurance tie-up, that will continue. But at the end of the day, the services provided by these entities to the customers, if customers are happy, and then the way these people continue to service the needs, insurance needs of the customers, normally, wherever best service is available, they will move to that channel. That's why these are all two distinct areas. I do not want to mix up this.
My experience on the digital side has been excellent. That's the reason I just sought a feedback.
Yeah, yeah.
I mean that-
We have the digital channels. That is, from day one, it will be a totally digital, integration that will be there.
How are we going to rebrand this, and how soon that would be visible? Because that can be a big thing for-
Yeah, there is still, we are discussing all the aspects regarding this branding and all the things. So let us see. It takes little more time for us to publicly declare what will be the-
No, no, I am not asking anything. Basically, whether it will take shape in the current year by March 2025 or not? That's what I was asking.
It should be. Before March, only it has to happen.
Okay. Second thing, sir, on the CASA penetration which is a very sustainable success story of Central Bank of India, maybe one or two other cases are comparable, not much. The efforts have been excellent from the team which is working on it, whether it's rural, tier two, tier three, where our base is. We have migrated on many technology platforms, and we are doing a lot of digital initiatives. Has those results started fructifying or the early visibility only, and that would add to our kitty in a long-term basis?
No. Already some of the products are rolled out, where we are seeing the traction in that, and many more products that are slated for the next two to three months. It is a continuous process, where we will be shifting many of these products onto this new technology platform, where a lot of, you know, optimization happens on the cost and also efficiency parameters. Coming to your point of CASA and all those things, let me share with you, we made some experimentation with the BC MAX, because everyone knows in the industry there is one concept called a banking correspondent, and another is your physical brick-and-mortar branches. We brought a hybrid in between, and we have rolled out the pilot, and it is very successful.
And then going forward, this will be the model where we will be reaching out in areas where our presence is not there, and then business is also happening well. In those areas, we will be moving with the BC MAX centers. It is only a totally technology-based solution.
How many such touchpoints will we roll out, sir?
We have identified almost 520 PIN codes, where CAGR of banking business is more than 15%, and our presence is not there. So as a pilot, we are rolling out 25, and then based on this one, again, we will be expanding in all the PIN codes where this business is there and my branch is not available.
Okay. So this would bring a lot of additional-
Yeah
Benefits to the bank from all perspectives.
Right.
What do all the exercises—what we are doing or what we have planned for the last twelve months on digital initiatives—how much CapEx we would have done so far, and what is left that will still continue on an ongoing process, and what is one time?
See, it is ongoing. This year, our budget was around INR 800 crores, and then some milestone-based payments that happened. You know, that's why I cannot pinpointedly say this is the amount what we have spent, but budgeted is INR 800, and as per the milestones that our partners are achieving, that payments will get released.
Okay. Sir, my next question to Mr. Wahi: What is the indicative guidance on the treasury yields for the year-end?
Sir, this calendar year, we are not expecting now further much fall. Already it touched 6.72, so maybe 4-5 basis points here and there for this quarter. But, definitely, for March quarter, we are seeing another, at least 15 basis point fall. So overall, it should not be more than 25 basis point fall up to March. This is our in-house, you know, view on the tenure. Let us hope that scenario continues, and our treasury is good time for treasuries have again come. It is a cyclical thing, you all know, so let us hope for the best.
Sir, in view of your treasury outlook, do we, not only for our bank, we were not in the rat race for CD ratio in terms of, deposit mobilization at any cost. We have been very comfortable. What is our strategy on growth of where deposits are concerned in next six months?
See, deposit growth, what, see, one thing you rightly observed, as far as our bank is concerned, I think, only bank which is not in the certificate of deposit market. We never were there in that CD. And we are very conscious, and then we are principally, we are on the, you know, belief that, CD should not fund our growth. And having a, you know, CD ratio of 65, we have a lot of liquidity, and then we have a CRAR above 16, and we have enough growth capital and also liquidity. Going forward, our focus more will be to acquire the new customers on the, you know, CASA side, and then offer differentiated products to the existing customers.
Then, as we've not been in deposit rate, repricing might be hurting a lot of banks. Do I assume that we are comfortable with repricing of deposits and the sustainability is concerned with cost of...?
Yeah, we always factor that part, you know, because my 49% is already under CASA. And then taking the current deposit, the my repricing portfolio, which is exposed to the repricing portfolio, is 50%. Within a year, it will be around 24% to 25%. That always we factor in. Whatever the increase in deposit rate we make is only to protect our own turf in the deposit portfolio so that my customer need not go to other banks for want of higher rate of interest in term deposits. So that's the strategy we follow, and we are successful in that.
Sir, do you think that with the treasury outlook and the global money market, Indian rates have been in terms of cost of funds today, bank-to-bank MCLR might be rising, but more or less in the current financial year, the rates have peaked from MCLR point of view?
But, in normal, this one you can say it is peaked. But if you see the certificate of deposit market, it is almost, you know, public sector itself, INR 2.76 lakh crore is there in the CD. Even if they want to shift it on to the, you know, customer deposits, from CD to customer deposits, I do not know to what extent, but there is a probability that the rate of increase in the deposits may not be the same way which was happening for the past six to eight months.
Sir, could you repeat the number of CD amount?
It is total public sector banks which have raised is INR 2.76 lakh.
And as a system, sir?
Total system, 5.36 lakh.
Okay. Sir, thank you for answering-
Banks and public financial institutions.
Sir, anything new which the shareholders or the analysts don't know and we should know in the, for the years to come?
Never that will be. You people will be much more, you know, having the market.
Sir, what I meant is some new initiative, like Future Generali we acquire. I'm not saying some acquisition has to happen, but some new business development, new plan, maybe a large recovery, something doing from written-off accounts, something which would aid our profit for the second half in terms of, some new efforts or some new initiative on business, digital, whatever it may be, that something new which will stand out for us in the next six months. That's what I meant.
Yeah, I will share you in January call, whatever that we have done new and what was the result.
Thank you, sir, and I'll come back to you again.
Thank you, sir.
All the best and best wishes for the-
Thank you. Thank you.
Sir, there was a question from Ajmera ji. He wanted to know about the details. So this ninety crores, out of that one thirty-seven crore is the penal charges, because till thirty-first of March, it was penal interest, now it is penal charges. So we have segregated this, so that is why this.
RBI fine.
Yes. This is miscellaneous income is appearing higher.
Thank you, sir. Ladies and gentlemen, you may press Star and One to ask a question. We have the next question from Ashlesh Sonde, from Kotak Securities. Sir, you may proceed.
Hi, team. Good afternoon. So just a couple of questions. Firstly, if I look at your SMA-2 book above INR 5 crore, that has increased quarter on quarter from INR 6 crore to INR 360 crores. So can you share more details about this increase?
Just a minute. What is this? SMA-0 , what you are saying?
SMA-2 .
SMA-
SMA-2 .
SMA- 2, above five crores, it was 174 right now.
... Huh?
Very good, please.
88, it was there for September 2023, which has gone up to 117 in June 2024, and September 2024, it is 174.
Sir, the top five accounts are, this-
See, I'll give you the details of top five accounts. Top five accounts constitutes now 180 plus.
Sir, if you look, just look at the QOQ movement of the SMA-2 book above INR 5 crore.
Yeah, yeah.
Sorry, I'm talking about SMA-1 , I'm sorry. It was six crores earlier, it's gone to 360 crores, SMA-1 .
SMA-1 .
Okay.
SMA-1 also, it's the top five accounts constitute now INR 325 crore. However, out of that, one account are already regularized. Other accounts are continuing in SMA-1 , and we do not foresee any of them slipping.
So you're saying out of the INR 360 crores, INR 325 crores is from just one account, and that is now?
Five crores is out of the top five accounts. Out of that, one account is already standard, worth 10 crores. One big account is there, but that also is, I mean, okay. We do not foresee any issue in that account also.
Okay. Is this a telecom-related account, the big one?
No.
Okay. And that has become current again, the big account?
It's continuing-
The number of SMA.
SMA-1 only.
Okay. Okay, perfect. And secondly, you have made an additional prudent provision on standard restructured accounts. You said roughly 260 crore rupees.
Mm-hmm.
But your standard restructured book overall has only declined QOQ.
See, now what has happened is, we were to bring our Net NPA in line with the industry that we have been able to do successfully.
Mm-hmm.
Now, our net NPA has come down to 0.69. So now we have shifted our attention from the ECL perspective, if and when it comes, so we should be well prepared. So with that perspective, already the standard restructured book, we are having around, roughly around 10%-11% built up. So we want to build based on the PD and other things. We want to proactively build provision in that book also.
Understood. So there is no specific exposure for which you have made this provision?
No, no, no, no, no. It is, it is on the entire restructured book.
Understood. Sir, just one last data-keeping question. Can you give a breakup of your slippages across segments, that INR 766 crore?
Yeah.
Of the slippage?
Yes. So, under Agri, the slippages were INR 187 crores. Under, corporate, it was INR 164 crores. Under MSME, it was INR 270 crores, and under retail, it was INR 145 crores. And, including the increase in balance of the existing NPA, if you want to speak, then INR 233 crores in Agri, corporate INR 183, MSME INR 330, and retail INR 168.
Okay, perfect. Thank you, sir.
No problem. Thanks.
Participants, you may press Star and One to ask a question. Ladies and gentlemen, if you wish to ask a question, you may press Star and One.
I think if anyone is not there, we can conclude our session.
Okay, sir.
Yeah.
As there are no further questions, I would like to now hand the conference over to management for closing comments.
So, on behalf of the entire top management of Central Bank of India, I would like to extend thanks to all the analysts for sparing their time and interacting with us. We'll continue to post good numbers with our endeavors, and we'll continue to excel. Thank you so much.
Thank you.
On behalf of Antique Stock Broking Limited, this concludes this conference. Thank you for joining us, and now you may disconnect your lines.