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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.
