Increase in provisioning due to sharp rise in bad loans resulted in squeezing of bottomlines.

Central Bank of India yesterday reported a loss of Rs 836.62 crore for October-December 2015-16, against a profit of Rs 137.65 crore in the third quarter of the previous fiscal.

The asset quality worsened with the gross non-performing assets (NPAs) rising to 8.95 per cent of the gross advances during the quarter, as against 6.2 percent year ago. As a result, bank's provisions and contingencies more than doubled to Rs 1,499.05 crore as of December 2015, as against Rs 645.44 crore a year ago.

Similarly, Dena Bank reported a loss of Rs 662.85 crore for the third quarter as against net profit of Rs 76.56 crore in the same quarter last year. Gross NPAs as a percentage to total advances rose significantly to 9.85 per cent from 5.61 percent in the same quarter year ago, Dena Bank said in a statement.

Kolkata-based Allahabad Bank reported a loss of Rs 486.14 crore for the third quarter. The bank had earned a net profit of Rs 164.11 crore in the same quarter last year. Gross NPAs as a percentage to total advances rose to 6.40 percent from 5.46 per cent in the same quarter year ago.

After results, shares of the Allahabad Bank declined by 3.2 percent and closed at Rs 51 per unit.

Shares of the bank plunged to 87.85 per unit, down 6.89 percent on the BSE.

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