Central Bank of India trims Q4 net loss

Dhaka,  Sun,  23 July 2017
Published : 17 May 2017, 18:01:21
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Central Bank of India trims Q4 net loss

MUMBAI, May 17: State-owned Central Bank of India has reported a lower net loss of Rs 5.92 billion during the last quarter ended March 2017 on improved recovery as against a loss of Rs 8.98 billion on bank’s books for the same quarter ended March 2016. However, bad loans soared for the quarter, according to media reports.

Provisions and contingencies came down to Rs 19.27 billion from Rs 22.87  billion in the same quarter year ago. For full fiscal, there was a net loss of Rs 24.39 billion, up from Rs 14.18 billion in 2015-16, the bank said.

Gross NPA to gross advances increased to 17.81 per cent as on March 2017 from 11.95 per cent year ago. Net NPAs rose to 10.20 per cent of net advances from 7.36 per cent year ago. Shares of the bank closed 4.44 per cent up at Rs 118.80 on the BSE.
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