Central Bank of India Q1 loss at Rs 600 cr

Total income of the bank declined to Rs 6,662.6 crore as against Rs 7,098.99 crore in the same period last year

Central Bank of India on Friday reported a net loss of Rs 599.8 crore for the first quarter ended June as provision for bad loans witnessed over two-fold jump. The bank had earned a net profit of Rs 203.6 crore in the April-June quarter of last financial year, the state-owned bank said. Total income of the bank declined to Rs 6,662.6 crore as against Rs 7,099 crore last year.

Provision for bad loans witnessed over two-fold rise to Rs 1,543.6 crore as against Rs 580.7 crore a year ago. As on June 30, gross non-performing assets increased to 13.52 per cent of loans as against 6.7 per cent last financial year.

Net non-performing assets also rose to 8.17 per cent as against 4 per cent as on June 30, 2015.