Central Bank posts Rs 642-cr loss as bad loans increase

The bank’s financial performance suffered as its provisioning for bad loans increased 157.4 per cent on a year-on-year (y-o-y) basis to Rs 1,661.21 crore.

By: ENS Economic Bureau | Mumbai | Published:November 5, 2016 1:35 am

Central Bank of India on Friday reported a net loss of Rs 641.82 crore in the quarter ended September, as against a net profit of Rs 112.87 crore a year ago.

The bank’s financial performance suffered as its provisioning for bad loans increased 157.4 per cent on a year-on-year (y-o-y) basis to Rs 1,661.21 crore. At the end of September, Central Bank’s gross non-performing assets (NPAs) constituted 13.7 per cent of its loan portfolio, as against 13.52 per cent at the end of June and 6.86 per cent at the end of September 2015.