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Corporation Bank profit at Rs.382 cr

MANGALORE: Corporation Bank registered a net profit of Rs.382.42 crore in the third quarter ended December 31, 2010, against Rs.305 crore in the year-ago period, recording a growth of 25.4 per cent. The net profit for the nine months ended December 31, 2010 stood at Rs.1,067.94 crore against Rs.857.92 crore, a 24.48 per cent growth.

Ramnath Pradeep, Chairman and Managing Director, said the performance of the bank after the adoption of the quarterly results by its Board of Directors in Mumai on Friday.

The bank said in a release that the operating profit for the nine months went up by 21.30 per cent from Rs. 1,591.74 crore to Rs.1,931 crore. In the third quarter, it went up by 37 per cent from Rs.537.86 crore to Rs.736.96 crore.

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