NEWS & ADVICE : SAVINGS ACCOUNTS
Corporation Bank posted a marginal growth in Q4 net profit
By Neelima Shankar
May 9, 2013
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The public sector lender, Corporation Bank's net profit grew marginally in the January-March quarter of FY13 at Rs 356 crore on the back of higher provisioning and lower margins during the quarter.

The bank had posted a net profit of Rs 351 crore in the corresponding quarter of the previous financial year.

Net interest income increased 12 per cent to Rs 931 crore against Rs 834 crore in the fourth quarter of the financial year 2012.

As of March 2013, the total advances grew 18 per cent to Rs 1.19 lakh crore against Rs 1.01 lakh crore in FY12 while deposits were increased by 22 per cent at Rs 1.66 lakh crore from Rs 1.36 lakh crore in FY12.

Total provisions during the quarter increased to Rs 567 crore from Rs 463 crore in Q4FY12. The net interest margin declined to 2.29 per cent in FY13 from 2.48 per cent in FY12.


 


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