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Central Bank of India Reports Loss of Rs. 577 cr.
August 02, 2017
Earlier this Saturday, the Central Bank of India reported a net loss of Rs. 577 crore for the June quarter during the current fiscal year, which is just short of Rs. 23 crore from the net loss of Rs. 600 crore of the last fiscal.
The gross NPAs of Central Bank of India stood at Rs. 31,398 crores, a jump of 15%, thereby suggesting a decline of assets’ quality.
The Central Bank of India said that it has also to keep Rs. 961 crore aside as provisions for the NPAs accounts as identified by the RBI recently.
