Central Bank posts R1,508 cr loss in Q2

With non-performing assets (NPAs) soaring 35.9 per cent to Rs 11,563 crore,public sector Central Bank of India has posted a massive net loss of Rs 1,509 crore in the three months ended September 2013 as against a net profit of Rs 330 crore in the year ago period. The bank showed a four-fold spike in […]

Written by ENS Economic Bureau | Mambai | Published: November 12, 2013 1:29:09 am

With non-performing assets (NPAs) soaring 35.9 per cent to Rs 11,563 crore,public sector Central Bank of India has posted a massive net loss of Rs 1,509 crore in the three months ended September 2013 as against a net profit of Rs 330 crore in the year ago period.

The bank showed a four-fold spike in provisions which soared to Rs 1,841 crore,(including Rs 62 crore for restructured assets) as against Rs 492 crore it made during the July-September quarter last year.

The gross non-performing assets jumped to 6.47 per cent against 5.54 per cent in the previous quarter last year.

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