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Central Bank of India net loss narrows to Rs 591.77 cr in Q4

Country’s one of the oldest and largest commercial lender Central Bank of India has reported that its standalone net loss narrowed to Rs 591.77 crore in the January-March quarter of FY 17. The bank had posted standalone net loss of Rs 898.04 crore in corresponding quarter of previous fiscal, said Central Bank of India in a filing to the Bombay Stock Exchange.

Total income of the bank too grew by 6.1 per cent to Rs 7,121.05 crore in Q4 FY17 from Rs 6,711.88 crore in Q4 FY16. During the quarter, provisions (other than tax) and contingencies increased to Rs 1,926.66 crore from Rs 1,486 crore in previous quarter and declined from Rs 2,286.66 crore in corresponding quarter of last fiscal.

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