Corporation Bank posts good performance in first quarter

10:55 AM, Tuesday, July 30th, 2013
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Corporation-BankMangalore :  The Operating Profit of Corporation Bank for the  Quarter  ended June 13 was at Rs 995.00 crore as against Rs 669.86 crore for Q1 of previous fiscal recording an increase of Rs 325.14 crore.

This was informed by Amar Lal Daultani, Executive Director of the Bank after the adoption of the financial results for the quarter ended June 30, 2013 by the Board of Directors. The Bank’s  total business increased by Rs 45,721 crore with a growth rate of 19.65% on y-to-y basis. Business per employee has gone up from Rs 16.68 crore as at June 30, 2012 to Rs 18.39 crore as at June 30, 2013. Business per Branch has improved from  Rs 149.71 crore as at June 30, 2012 to Rs 160.81 crore as at June 30, 2013, he informed.

Earnings per share was at Rs 98.88 for the quarter ended 30.06.2013 as against 100 per share for Q1 of FY 2012-13 (annualized). Total Business of the Bank as on 30 June 13, stood at Rs 278,369 crore as compared to Rs 232,649 crore as at June 2012, he informed.

It was informed that the  Bank’s network has spread across 6,868 functional Units in 26 States and 3 Union territories. The Bank has 2 representative offices at Dubai and Hong Kong. As of now, the Bank has  1731 Branches, 1569 ATMs and 3568 Branchless Banking Units. The Bank opened 24 branches during the quarter.

B K Srivastav, Executive Director of Corporation Bank and  General Managers and CG Pinto were presentCorporation-Bank

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