Central Bank of India Q4 Profit Drops 4 Per Cent to Rs 162 Crore

Central Bank of India recorded a 4 per cent decline in net profit at Rs 162.44 crore for the fourth quarter that ended on March 31, 2014.

The state-owned bank had posted a profit of Rs 169.15 crore for the corresponding quarter of financial year 2012-13, it said in a filing to the BSE.

Total income increased to Rs 6,961.67 crore from Rs 6,403.57 crore a year ago.

For the entire 2013-14, the bank made a loss of Rs 1,262.84 crore, compared with a profit of Rs 1,014.96 crore in the previous financial year, due to higher provisioning.

Total income in 2013-14 rose to Rs 26,350.13 crore from Rs 23,527.98 crore in 2012-l3.

Provisions, other than tax, and contingencies surged to Rs 4,232.57 crore in FY14 compared with Rs 1,852.81 crore in FY13.

Gross non-performing assets (NPAs), or bad loans, as a percentage of total advances rose to 6.27 per cent from 4.8 per cent in the same quarter a year ago.

Net NPAs increased to 3.75 per cent from 2.9 per cent at the end of March 2013.