BREAKING NEWS

BREAKING NEWS ""**Expected DA for Bank Employees from Aug 2024 MINIMUM 7 SLAB AND MAXIMUM 24 SLAB*****I *****

VISITOR FROM WORLD

Free counters!

YOU ARE VISITOR

Blog Archive

LIVE

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Monday, October 30, 2017

Central Bank of India Q2 loss widens, net NPAs jump to 9%

Public sector Central Bank of India today reported widening of its net loss at Rs. 750.41 crore for the July-September quarter of this fiscal due to higher provisioning for the bad loans.

The bank had reported a net loss of Rs. 641.82 crore in the corresponding quarter of the 2016 -17 fiscal.

The bank’s gross non-performing assets (NPAs) jumped to 17.27 per cent of gross loans by September 30, 2017.The gross NPAs were 13.70 per cent of the gross loans at the end of the same quarter a year earlier.
Likewise, net NPAs or bad loans jumped to 9.53 per cent as on September 30, 2017 from 8.17 per cent a year ago, it said in a regulatory filing. In absolute terms, gross NPAs were of the order of Rs. 31,641.15 crore as on September-end, up from Rs.25,717.95 crore a year ago.Net NPAs were valued at Rs. 15,899.74 crore, up from Rs. 14,352.64 crore during these comparable periods.

This resulted into a higher allocation in provision and contingencies at Rs. 1,961.66 crore for second quarter of 2017-18 from Rs. 1,661.21 crore a year ago.

In respect of nine accounts under provisions of Insolvency and Bankruptcy Code (IBC), the bank said it was required to make an additional provision of Rs. 961 crore, proportionated over three quarters beginning from second quarter of this year so as to cover it fully by March 2018.

“The additional provision of Rs. 459 crore has since been made during the quarter leaving a balance provision of Rs. 502 crore...by March 2018,” it added.

Total income of the bank during the July—September quarter of the current fiscal fell to Rs. 6,896.26 crore as against Rs. 6,965.45 crore in the similar quarter of previous fiscal, showed the balance sheet.

No comments:

33.9 million Jobs: Good News! India plans to add 33.9 million jobs by 2028

33.9 million Jobs : India’s workforce is anticipated to expand from 423.73 million in 2023 to 457.62 million by 2028, adding a net gain of a...

script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js">