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Corporation Bank net up 17 p.c. in Q1

NEW DELHI: Corporation Bank on Thursday reported a net profit of Rs. 123.50 crore for the first quarter of the fiscal ended June 30, 2005, showing a 17 per cent increase over Rs. 105.50 crore net earnings in the same period in the previous fiscal. Total business recorded an increase of over 18 per cent at Rs. 45,565 crore against Rs. 38,422 crore. Of this, while deposits rose by about 12 per cent to Rs. 26,767 crore, advances spurted by 30 per cent to Rs. 18,797 crore. The net worth of the bank at present stands at Rs. 3,178 crore against Rs. 2,874 crore as on June 30, 2004.

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