Central Bank of India reports net loss of Rs 606 crore in Q3

Central Bank of India reported net loss of Rs 605.70 crore for its third quarter ended December 31, 2016, which has narrowed compared to Rs 836.62 crore in the corresponding period of the previous year. 

Net loss has narrowed from the net loss of Rs 641.82 crore recorded in the preceding quarter. 

Net interest income (NII) was at Rs 1506.21 crore, declining by 13.67% year-on-year (YoY) and 11.05% quarter-on-quarter (QoQ) basis. 

Total income from operations stood at Rs 6787.87 crore. registering decline of 1.79% yoy and 2.54% yoy. 

Provisions and contingencies also declined by 0.87% to Rs 1486 crore, against Rs 1499.05 crore a year ago same period. In the previous quarter, provisions stood at Rs 1661.21 crore. 

Gross non-performing assets (GNPAs) was at 14.14%, expanding by 519 basis points yoy and 44 basis points qoq. 

During the quarter, the bank has allotted 1,71,44,954 equity shares at a face value of Rs 10 each and also at a premium of Rs 81.45 per share on preferential basis to LIC Of India.