Central Bank reports Q1 loss of cr
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