Mangalore : A net profit of Rs 303.17 crore was registered by Corporation Bank during the third quarter of the fiscal as against Rs 402.22 crore last year.

Informing this to reporters, Ajai Kumar, Chairman and Managing Director of the Bank said during the period the operating profit of the Bank was Rs 797.74 crore. He said that the total income for the Quarter ended December 2012 grew by 12.8% and reached Rs 4,527.85 crore as against Rs 3,776.31 crore for Q3 of FY 2012.The interest income also grew by 15.1% over Q3 of FY 2012 to reach Rs 3,870.89 crore as at Dec 31, 2012.

Ajai Kumar further said the Net Interest Income for the  Quarter ended December 2012 was at Rs 883.39 crore as against Rs 861.81crore for Q3 of FY 2012 and recorded a growth rate of 2.5%.

The free income from core areas like commission, exchange, brokerage  etc., increased by 13.5% over Q3 of FY 2012 to reach Rs 238.69 crore as at Dec 31, 2012, the Chairman informed.

He further stated that the  Return on Assets was at 0.74% and Return on Equity was at 13.39% during the period.

The Bank chairman also informed that during the quarter, the Bank opened 52 branches across the country

Executive Directors  Amar Lal Daultani, K Srivastav and were present at the press meet.