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Central Bank Q3 loss widens to Rs 1,664 cr on rising bad loans

Central Bank Q3 loss widens to Rs 1,664 cr on rising bad loans
Highlights

Central Bank of India today reported widening of loss to a staggering Rs 1,664.22 crore for the third quarter ended December 31, 2017-18, on persisting bad loans.

NEW DELHI: Central Bank of India today reported widening of loss to a staggering Rs 1,664.22 crore for the third quarter ended December 31, 2017-18, on persisting bad loans.
The state-owned bank had posted Rs 605.70 crore loss in the October-December quarter of 2016-17.

Its total income decreased to Rs 6,589.32 crore during the quarter under review, as against Rs 6,787.87 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 18.08 per cent of gross advances during the December quarter, as against 14.14 per cent in the year-ago period.

Net NPAs stood at 9.45 per cent of net advances, up from 8.54 per cent a year ago.
The provisioning for bad loans and contingencies was at Rs 3,427.03 crore during the quarter, slightly down from Rs 1,486 crore a year ago.

Similarly, the provision for bad loans doubled to Rs 3,081.56 crore against Rs 1,571.18 crore in the same period a year ago.

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