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Corporation Bank Q1 2014 net profits rise to Rs 378 crores
Corporation Bank has reported better then expected results for Q1 2014 with a net profit of Rs 377.98 crores for the quarter ended June 30, 2013 as compared to Rs. 370.25 crores for the quarter ended June 30, 2012.
Total Income of the bank has increased from Rs 3978.23 crores for the quarter ended June 30, 2012 to Rs 4852.68 crores for the quarter ended June 30, 2013.
The asset quality like most other banks has deteriorated with the gross NPA coming in at 2.37 per cent, as against 1.72 in the previous quarter. Net NPAs have also risen to 1.63 per cent from 1.19 per cent.
The shares had closed 303 on the National Stock Exchange.
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