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Central Bank of India Narrows Loss to Rs 718 Crore in Third Quarter

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.

PTI

Updated:February 2, 2019, 11:34 PM IST
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Central Bank of India Narrows Loss to Rs 718 Crore in Third Quarter
File photo of Central Bank of India.

New Delhi: Central Bank of India on Friday reported a loss of Rs 718.23 crore for the third quarter ended December 2018 against that of Rs 1,664.22 crore in the October-December quarter of previous fiscal.

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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