Mangaluru: The Corporation Bank increased its Deposits to Rs. 2,20,559.62 crore as on March 31, 2017 from Rs. 2,05,170.84 crore as on March 31, 2016, exhibiting a growth of 7.50%. Total business of the bank reached to the level of Rs. 3,60,916.41 crore as on March 31, 2017 against Rs. 3,45,493.08 crore recorded during the same period last year (year-on-year basis (y/y), showing a growth of 4.46%, said latest data released by Corporation bank officials on Saturday in Mangaluru.

Cost of deposits of the bank for the financial year ended March 2017 reduced to 6.74% as against 7.51% year-on-year basis. Net profit of the bank for the current financial year stood at Rs.561.21 crore, exhibiting a growth of 210.81%.

Interest income of the bank stood at Rs. 19,471.47 crore as on March 31, 2017 as against Rs.19,411.24 crores during the same period last year. Noninterest income of the bank increased to Rs. 3,090.29 crore as on March 31, 2017 as against Rs. 1,735.16 crore recorded in the previous financial year and thereby the bank registered a growth rate of 78.10%