Central Bank’s net loss down to Rs 1,121 crore in FY20

Mumbai (Maharashtra) [India], June 29 (ANI): Government-owned Central Bank of India said on Monday its net loss for FY20 reduced to Rs 1,121 crore from Rs 5,641 crore in FY19.

But the operating profit improved to Rs 4,344 crore as compared to Rs 3,127 crore, registering a growth of 39 per cent.

Total income for FY20 increased to Rs 27,200 crore as compared to Rs 25,052 crore in FY19, marking a growth of 8.57 per cent.

The gross non-performing assets (NPAs) reduced to 18.9 per cent from 19.99 per cent as in Q3 FY20. On the other hand, net NPAs reduced to 7.6 per cent from 9.2 per cent in Q3 FY20.

Business per employee increased to Rs 14.41 crore as against Rs 12.99 crore in FY’19, the bank said in a statement.

In Q4 FY20, retail loans totalled Rs 46,106 crore as compared to Rs 41,042 crore year-on-year while total business increased to Rs 4.86 lakh crore from Rs 4.67 lakh crore.

In September last year, the bank got capital funds of Rs 3,353 crore from the government after which the state’s stake in the bank increased to 92.39 per cent. (ANI)

This site uses Akismet to reduce spam. Learn how your comment data is processed.