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Central Bank of India Q2 loss widens to Rs 924 cr

Central Bank of India Q2 loss widens to Rs 924 cr

New Delhi: State-owned Central Bank of India Wednesday reported widening of net loss to Rs 923.60 crore in the second quarter ended September 30, due to mounting bad loans and falling core income.

The bank had posted a net loss of Rs 750.41 crore in the year-ago period, it said in a regulatory filing.

However, the loss narrowed from Rs 1,522.24 crore reported in the June quarter.

Total income also fell to Rs 6,197 crore in the quarter, from Rs 6,896.26 crore a year ago.

The bank's interest income fell to Rs 5,685.05 crore in July-September, from Rs 6,166.06 crore in the year-ago period.

The lender's asset quality worsened year-on-year, as gross non-performing assets (NPAs) spiked to 21.48 per cent of the gross advances as at September-end as compared with 17.27 per cent by the end of the same month in 2017.

Net NPAs also ballooned to 10.36 per cent of the net advances, against 9.53 per cent a year ago.

PTI

PTI

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