Report and Pic by Rons Bantwal
Daijiworld Media Network – Mumbai (RD/SP)
 
Mumbai, Jan 29: Corporation Bank chairman and managing director (CMD) J M Garg announced the Quarter 3 (Q3) results of the Bank on Tuesday January 27 here.
 

The Bank recorded consistent performance in major parameters during the third quarter of the current financial year.  Net profit for the quarter ended December 2008 increased from Rs 190.90 crore to Rs 256.47 crore,  recording a year to year growth of 34.30 percent.
 
It's operating profit for the quarter ended December 2008 went up by 61.90 percent on year to year basis from Rs 277.55 crore to Rs 449.40 crore.  Operating profit for the 9 months ended December 2008 went up by 32.35 percent from Rs 847.64 crore to Rs 1.121.89 crore.  Total income during Q3 increased by 50.50 percent on year to year basis from Rs 1,265.83 crore to Rs 1,905.52 crore.  Total income for the 9 months ended December 2008, increased by 32.61 percent from Rs 3,751.59 crore to Es 4,974.93 crore.  Non-interest income increased by 85 percent from Rs 152.43 crore to Rs 282.03 crore during the 9 months ended December 2008.  Total business stood at Rs 1,06,831 crore, recording year to year growth of 27.74 percent.  Gross Non Performing Assets (NPA) has come down from 1.71 percent in December 2007 to 1.24 percent in December 2008.  Net NPA stood at 0.55 percent.  CRAR improved to 12.76 percent from 12.07 percent in December 2007,  the Bank  stated in a press release.