Due to huge loan-loss provisioning, Central Bank of India’s net loss widened to Rs.2113 crore in the fourth quarter ended March 31, 2018, against Rs. 592 crore in the year-ago quarter.
For the financial year ended March 31, 2018, the public sector bank’s net loss widened to Rs.5105 crore, against Rs. 2,439 crore in the previous financial year.
Loan-loss provisions during the reporting quarter amounted to Rs.4832 crore. This includes Rs.725 crore in additional provisions made in respect of non-performing assets covered under the Insolvency and Bankruptcy Code.
As of March-end 2018, deposits were almost flat at Rs. 2,94,839 crore. Advances were up 12 per cent year-on-year at Rs. 1,56,542 crore.
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