Central Bank of India on Friday reported a net loss of Rs 898.04 crore in the fourth quarter of 2015-16, the second-highest quarterly loss it has ever made.
In the same quarter last year, the bank had made a loss of Rs 836.62 crore, while in the third quarter of FY16, it made a net profit of Rs 174.29 crore.
Net interest income (NII) or the difference between interest earned and interest expended fell by 18.65% on a year-on-year basis to Rs 1,563.27 crore. Compared to the previous quarter, NII fell by 10.40%.
Gross non-performing assets as a percentage of gross advances rose by 586 basis points on a Y-o-Y basis to 11.95% in the fourth quarter. On an absolute basis, gross NPAs stood at Rs 22,720.88 crore.
Net NPAs as a percentage of net advances rose by 375 bps on a Y-o-Y basis to 7.36%. On an absolute basis, net NPAs stood at Rs 13,241.80 crore. Provisions rose 270.50% to Rs 2,286.66 crore in the fourth quarter, compared with Rs 617.17 crore in the same period last year.
The operating profit before provisions and contingencies fell by 72.62% to Rs240.28 crore in the fourth quarter compared to a year ago.