Central Bank
By
Ruma Dubey
about 7 years ago
Central Bank of India (CBI) posted a very dismal performance for Q1FY18. The bank’s loss making saga continues and so does poor asset quality. It reported a loss of Rs.577 crore in current Q1 v/s loss of Rs.600 crore in previous Q1. This was only thanks to a dip in provisions at Rs.1269 crore, down 18% (YoY). Its NII was at Rs.1,331 crore, down 20% from the year-ago period.
In terms of asset quality, Gross NPA went up sharply from 13.52% to 18.23% (YoY) and up 43 bps sequentially. Net NPA too showed a very big jump to 11.04% from 8.17%. This is very big erosion of asset quality and the market is obviously punishing the Bank for this.
Its capital adequacy ratio (CAR) under Basel-III was at 9.61%, down 30% (YoY).
52.33 (+0.80)