Business   

Corporation Bank Q4 net up

MANGALORE: The net profit of Corporation Bank has gone up by 73.5 per cent in the fourth quarter of 2007-08.

The net profit, in absolute terms, was Rs. 205.60 crore in the quarter ended March 31, 2008, against Rs. 118.47 crore in the corresponding quarter in 2006-07. The gross profit too went by up 17.6 per cent to Rs. 403.50 crore.

Total income rose by 28 per cent to Rs. 1,464.71 crore.

The year-on-year growth of total income at the end of last fiscal was 30.5 per cent (Rs. 5,216.33 crore). The gross profit moved up by 9.8 per cent to Rs. 1,251.14 crore.

The net profit, year-on-year, registered a growth of 37 per cent at Rs. 734.99 crore.

Deposits registered a year-on-year growth of 31 per cent and increased to Rs. 55,424.42 crore and advances by the same percentage to Rs. 39,185.57 crore. Total business last fiscal was Rs. 94,609.99 crore, up 31 per cent.

The return on average assets was at 1.38 per cent. The earnings per share was Rs.51.24.

Total income and net profit for the year ended March 31, 2008, went up by 31 per cent and 37 per cent, respectively.

The major contributing factors for the top-line and bottom-line growth were increase in income from core business, better NPA management, particularly sharp decline in fresh delinquencies, and treas ury operations.

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

Stories in this Section

ICICI Bank net crosses $1-billion mark
Canara Bank net soars to Rs. 1,565 crore
Corporation Bank Q4 net up
Bangurs looking for tea estates in North, South India
Shriram Transport’s focussed approach
Ramco Textile Division achieves unique feat
Training centre for engineering units
Super luxury apartment complex planned

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu