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Central Bank of India fiscal Q4 net loss widens YOY

Central Bank of India's standalone net loss widened for the fiscal fourth quarter ended March 31 to 21.14 billion rupees, or 10.55 rupees per share, from 5.92 billion rupees in the prior-year period, or 3.11 rupees per share.

The bank said May 17 that interest earned dropped to 56.32 billion rupees from 62.40 billion rupees.

Total income declined to 63.02 billion rupees from 71.21 billion rupees. Operating profit before provisions and contingencies dropped to 5.47 billion rupees from 10.66 billion rupees.

Provisions and contingencies increased to 39.71 billion rupees from 19.27 billion rupees in the prior-year period.

For the fiscal year ended March 31, the bank posted net loss of 51.05 billion rupees, or 26.34 rupees per share, compared with net loss of 24.39 billion rupees, or 13.35 rupees per share, in the prior fiscal year.

The bank's gross nonperforming assets ratio stood at 21.48% as of March 31, up from 18.08% at Dec. 31, 2017 and 17.81% at March 31, 2017. Its net NPA ratio came to 11.10%, up from 9.45% at the end of 2017 and 10.20% in the prior-year period.

As of March 31, the bank's capital adequacy ratio under Basel III was 9.04%, compared with 7.87% at Dec. 31, 2017 and 10.95% at March 31, 2017. Its common equity Tier 1 ratio was 7.01%, from 5.87% at the end of 2017 and 8.62% at March 31, 2017.

As of May 17, US$1 was equivalent to 67.82 Indian rupees.