Central Bank of India Narrows Loss to Rs 718 Crore in Third Quarter
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Its total income decreased to Rs 6,329.17 crore during the quarter under review, as against Rs 6,589.32 crore in the year-ago period, the bank said in a regulatory filing.
Asset quality of the bank further deteriorated as gross non-performing assets (NPAs) grew to 20.64 per cent of gross advances during the December quarter, as against 18.08 per cent in the year-ago period. Net NPAs also increased at 10.32 of advances from 9.45 per cent a year ago.
However, the provisioning for bad loans and contingencies on net basis was at Rs 1,818.85 crore during the quarter, down from Rs 3,427.03 crore a year ago.
The provision for bad loans also declined to Rs 2,039.19 crore against Rs 3,081.56 crore in the same period a year ago.
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Source: News18