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This is an archive article published on July 25, 2013

Central Bank Q1 net dips 93 to Rs 22 cr

Central Bank of India today posted 93.5 per cent plunge in net profit to Rs 21.93 crore for the April-June quarter this fiscal

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Central Bank of India today posted 93.5 per cent plunge in net profit to Rs 21.93 crore for the April-June quarter this fiscal due to higher provisions for rising bad loans.

The bank had reported a net profit of Rs 335.9 crore for the quarter ended June 30,2012. Total income of the bank during the quarter rose to Rs 6,443.45 crore,from Rs 5,624.97 crore in the corresponding period of previous fiscal,it said in a filing with the BSE.

The bank made provisions and contingencies of Rs 983.26 crore in the first quarter of the current fiscal,up from Rs 352.94 crore in the corresponding period of 2012-13.

The net non-performing assets or bad loans of the bank during the quarter under review rose to 3.85 per cent from 3.22 per cent in the corresponding period of previous fiscal.

Gross NPA during the quarter under review increased to 6.03 per cent

from 4.87 per cent in the corresponding period of previous fiscal.

 

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