Central Bank of India 2nd quarter loss at Rs 750 crore

Total income of the bank during the July-September quarter of the current fiscal fell to Rs 6,896.26 crore.

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Net NPAs jumped to 9.53 per cent as on September 30, 2017 from 8.17 per cent a year ago, the bank said in a regulatory filing.(Representational Image)

Public sector lender Central Bank of India has posted a net loss of Rs 750.41 crore for the July-September quarter of this fiscal due to higher provisioning for the bad loans.

The bank had reported a net loss of Rs 641.82 crore in the corresponding quarter of the 2016-17 fiscal. Gross non-performing assets (NPAs) jumped to 17.27 per cent of gross loans by September 30, 2017 as against 13.70 per cent at the end of the same quarter a year earlier. In absolute terms, gross NPAs were of the order of Rs 31,641.15 crore as on September-end, up from Rs 25,717.95 crore a year ago.

Net NPAs jumped to 9.53 per cent as on September 30, 2017 from 8.17 per cent a year ago, the bank said in a regulatory filing.

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Net NPAs were valued at Rs 15,899.74 crore, up from Rs 14,352.64 crore during these comparable periods. This resulted into a higher allocation in provision and contingencies at Rs 1,961.66 crore for second quarter of 2017 -18 from Rs 1,661.21 crore a year ago.

Total income of the bank during the July-September quarter of the current fiscal fell to Rs 6,896.26 crore. With PTI