Central Bank of India's fourth quarter loss reduced, know how much

During the fourth quarter of the last financial year, the bank's earnings on a standalone basis stood at Rs 5,779.84 crore as against Rs 6,723.73 crore in the corresponding quarter last year

New Delhi: Public sector Central Bank of India reported a single net loss of Rs 1,349.21 crore during the fourth quarter of the financial year ended March 2021. In the fourth quarter of the year 2019-20, the Central Bank of India had a net loss of Rs 1,529.07 crore. However, the bank had a net profit of Rs 165.41 crore in the quarter ended December 2020-21.

Profit decreased from last year

"During the fourth quarter of the last financial year, the bank's earnings on a standalone basis stood at Rs 5,779.84 crore as against Rs 6,723.73 crore in the corresponding quarter last year," the Central Bank of India said in a notice to the regulator on Monday. Its full-year single net profit for the year 2020-21 stood at Rs 887.58 crore, which is 20.84 percent lower than the previous year's net profit of Rs 1,121.35 crore.

profit decreased from last year

"During the fourth quarter of the last financial year, the bank's earnings on a standalone basis stood at Rs 5,779.84 crore as against Rs 6,723.73 crore in the corresponding quarter last year," the Central Bank of India said in a notice to the regulator on Monday. Its full-year single net profit for the year 2020-21 stood at Rs 887.58 crore, which is 20.84 percent lower than the previous year's net profit of Rs 1,121.35 crore.

Decrease in the net NPA of the bank

The net NPAs of CBI also came down to 5.77 percent from 7.63 percent a year ago. During the fourth quarter, the provision of funds for bad loans and emergencies of CBI stood at Rs 3,130.33 crore. However, it was Rs 2,178.33 crore in the same period a year ago.

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