Business   

Corp. Bank first quarter net up

Staff Correspondent

MANGALORE: The net profit of Corporation Bank for the first quarter of the current fiscal was Rs. 177.11 crore as compared to Rs. 144.24 crore in the quarter ended June 2006, an overall growth of Rs. 32.87 crore.

Total income increased to Rs. 1,238.83 crore (absolute growth of Rs. 343.72 crore) as compared to Rs. 895.11 crore in the corresponding quarter of the previous year.

A release from B. Sambamurthy, Chairman and Managing Director of the bank said that total business of the bank as on June 2007 increased by Rs. 13,817 crore (deposits Rs. 9,291 crore) to reach Rs. 73,582 crore. Average deposits and advances grew by 31 per cent and 21 per cent, respectively, while total business grew by 30 per cent.

All the branches of the bank have been brought under the core banking solution covering 100 per cent business of the bank. The bank opened 78 branches during the last 12 months, taking the total number of branches to 918 by June.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Kamala Group, MPPL Renewable Energy team up
Mukand to invest Rs. 300 cr.
Intel backs low-cost laptop project for poor kids
GNFC’s Q1 sales up 35 p.c.
Sri Biotech venture with S.African firm
Focus on cooperation, not just competition
RINL mulls over importing iron ore from Brazil
Corp. Bank first quarter net up

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu