CorpBank net up 25%

Ramnath Pradeep

Total income of the bank in Q3 increased to Rs 2,735.73 crore from Rs 2,112.29 crore in the same period last year. Corporation Bank CMD Ramnath Pradeep announced the result.

The bank’s net Interest income for Q3 went up 40 per cent to Rs 842.39 crore from Rs 599.44 crore and the net Interest margin increased to 2.71 per cent in Q3 from 2.54 pwer cent. Net profit for the nine months period ended December 2010 increased to Rs 1067.94 crore recording a Y-o-Y growth of 25 per cent.

The bank announced that profit per employee has gone up to Rs 11.41 lakh as on December 31, 2010. Total business increased to Rs 170,460 crore, recording growth of 21 per cent, deposits increased to 98,526 crore and advances increased to Rs 71,934 crore. Its gross NPA has come down to 1.26 per cent from 1.32 per cent in December 2009 and net NPA stood at 0.58  per cent.

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