Central Bank Of India Shares Fall 4% After RBI Move

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Shares of Central Bank of India fell by 4 per cent today as the company has been placed under the RBI's watchlist on Prompt Corrective Action (PCA) owing to high bad loans and negative return on assets.The stock lost 3.98 per cent to Rs. 97.60 on BSE.

    On NSE, shares of the company dipped 3 per cent to Rs. 99.IDBI Bank, Indian Overseas Bank, UCO Bank and Dena Bank have already come under the PCA initiated by the Reserve Bank, which is a noose-tightening on fresh loan disbursal as well as the dividend distribution.

    Central Bank Of India Shares Fall 4% After RBI Move

    "Reserve Bank of India, vide its letter dated June 13, 2017, has put the bank under Prompt Corrective Action in view of high NPA (non-performing assets) and negative return on assets (RoA)," Central Bank of India said in a regulatory filing yesterday.

    For the fiscal ended March 2017, the bank reported a net loss of Rs. 2,439 crore, against a loss of Rs. 1,418 crore in 2015-16.

    Net non-performing assets (NPAs) also jumped to 10.20 percent of net advances for the fiscal from 7.36 per cent year ago.

    Goodreturns.in

    Read more about: central bank
    Story first published: Thursday, June 15, 2017, 14:59 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more