Money & Banking

Central Bank posts ₹1,349-crore loss in Q4

Our Bureau Mumbai | Updated on June 07, 2021

The bank’s net loss in the reporting quarter, however, was lower that the year ago period’s net loss of ₹1,529 crore

Central Bank of India slipped into the red, reporting a loss of ₹1,349 crore in the quarter-ended March 31, 2021 against a net profit of ₹165 crore in the preceding quarter (Q3FY21).

The bank’s net loss in the reporting quarter, however, was lower that the year ago period’s net loss of ₹1,529 crore.

NII, NPAs fall

Net interest income (difference between interest earned and interest expended) was down 21 per cent year-on-year (yoy) at ₹1,516 crore (₹1,926 crore in the year ago quarter).

Other income, including income from non-fund based activities, was up about 13 per cent yoy at ₹902 crore (₹795 crore).

Gross NPAs declined to 16.55 per cent of gross advances as at March-end 2021 against 18.92 per cent as at March-end 2020.

NPA provisions jumped about 100 per cent yoy to ₹3,259 crore.

Net NPAs position improved to 5.77 per cent of net advances as at March-end 2021 against 7.63 per cent as at March-end 2020.

Total deposits increased by 5.17 per cent yoy to stand at ₹3,29,973 crore as at March-end 2021. Total advances increased 2.71 per cent yoy to ₹1,76,913 crore.

Published on June 07, 2021

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