Cen­tral Bank re­ports Q1 loss of cr

The Financial Express - - MONEY & MARKET -

New Delhi, Aug 12: Cen­tral Bank of In­dia on Fri­day re­ported a net loss of Rs 599.8 crore for the 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 the pre­vi­ous fi­nan­cial year, it said in a reg­u­la­tory fil­ing.

To­tal in­come of the pub­lic sec­tor 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 year­ago 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% at the end of the first quar­ter of the pre­vi­ous fi­nan­cial year.

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

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.