What is your take on the latest results announced by Central Bank of India?
Answer
Answer
Central Bank of India net loss narrowed on a yoy basis Rs.1,349 crore in the Mar-21 quarter. This is a tad better than the net loss of Rs.1,529 crore in Mar-20 quarter. The net profits for the full year FY21 stood 20.8% higher at Rs.888 crore.
Gross NPAs at 16.55% were lower but relatively high on absolute basis. In Q4 FY21, Central Bank provided for bad loans and contingencies worth Rs.3,130 crore, up 45% over Mar-20 quarter. Capital adequacy remains a concern for the Bank.