Corp Bank records net profit of Rs 231.47 crore

6:30 PM, Saturday, August 9th, 2014

Corporation BankMangalore : SR Bansal, Chairman and Managing Director of Corporation Bank said that the net profit of the Corporation Bank for the quarter ended on June 2014 has registered a slump of 38.76 per cent.

Addressing the press meet held on Friday August 8, he said that The net profit is Rs 231.47 crore as against the Rs 377.98 crore registered in the corresponding period last year. The total income reached Rs 5,215 crore as against the Rs 4,852.69 crore achieved in 2013 during the corresponding period, registering 7.47 per cent growth.

He also said that the first quarter result was announced by the Banks CMD S R Bansal at the banks head quarters. The net interest income has shown decline by 2.12 per cent, touching Rs 944.24 crore compared to the last Q1. The total business registered 17.11 per cent growth to reach Rs 3,26,012 crore compared to June 2013.

Speaking on the NPA, Bansal said that Banks ratio of gross non-performing assets (NPA) to gross advances stood at 3.96 per cent as on June 30, 2014 as against 2.37 per cent as on June 30, 2013.

Bansal also said that the bank’s gross non-performing assets stood at Rs 5,469.94 crore and net NPAs at Rs 3,694.24 crore during the first quarter of 2014-15.

Speaking on business, he said that Total Business of the Bank reached Rs.326012 crore as against Rs.278369 crore in June 2013, showing a y-o-y growth of 17.11%.

The Deposits of the Bank rose to Rs.189718 crore as on 30.06.2014 from Rs.163016 crore as on 30.06.2013, exhibiting a y-o-y growth of 16.38%.

Banks Executive Directors A L Daultani, B K Srivastava and other top officers were present.

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