Central Bank of India Fourth Quarter Results: Central Bank of India Fourth Quarter Results: Lender’s net loss narrows to Rs 1,349 crore
Net profit (stand-alone) for the full year 2020-21 fell 20.84% to Rs 887.58 crore from Rs 1,121.35 crore in 2019-2020, Central Bank of India said in a regulatory file.
The (standalone) income during T4FY21 also fell to Rs 5,779.84 crore from Rs 6,723.73 crore in T4FY20.
For the year as a whole, revenue fell to Rs 25,897.44 crore from Rs 27,199.29 crore in FY20, the bank said.
The quality of the public lender’s assets has improved, with gross non-performing assets (APM) falling to 16.55% of gross advances at the end of March 2021, from 18.92% a year ago at the same period.
In absolute terms, gross NPA fell to Rs 29,276.96 crore from Rs 32,589.08 crore.
Net NPAs were also reduced to 5.77 percent (Rs 9,036.46 crore) from 7.63 percent (Rs 11,534.46 crore).
Provisions for bad and unforeseen debts during the current quarter increased to Rs 3,130.33 crore, from Rs 2,178.33 crore set aside for the quarter of last year.
The Central Bank of India’s action closed at Rs 23 a coin on the BSE, a jump of 7.98% from the previous close.