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Tuesday, August 16, 2016

Central Bank of India Q1 loss at Rs 600 crore

 Central Bank of India reported a net loss of Rs 599.8 crore for the first quarter ended June 30 as provision for bad loans witnessed over two-fold jump. 

The bank had earned a net profit of Rs 203.6 crore in the April-June quarter of last fiscal, the state-owned bank said in a regulatory filing. 

Total income of the bank declined to Rs 6,662.6 crore as against Rs 7,098.99 crore in the same period last year. 

Provision for bad loans witnessed over two-fold rise to Rs 1,543.65 crore as against Rs 580.75 crore in the year-ago period. 

As on June 30, 2016 the bank's gross non-performing assets (NPAs) increased to 13.52 per cent of advances as against 6.7 per cent at the end of the first quarter last fiscal.


Net non-performing assets also rose to 8.17 per cent as against 4 per cent as on June 30, 2015.

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