Company

Corp Bank net up 17.5% at Rs 189 cr

Corp Bank net up 17.5% at Rs 189 cr

Corporation Bank on Monday said its profits for the quarter ending September, rose 17.5 per cent to Rs 188.6 crore due to higher business from ATM and card transactions and trading profit from treasury operations.

The Mangaluru-headquartered bank had reported profit of Rs 160.51 crore in the July-September period last year. Net interest income grew 18.13 per cent to Rs 1,161.29 crore on lower cost of deposits.

The bank’s gross non performing assets (NPAs) rose to 5.32 per cent and net NPAs were at 3.54 per cent for the second quarter ending September. Gross NPA was at 4.45 per cent and net NPA at 2.92 per cent during the same period last year, the bank said in a notification to the BSE.

[“source-blogherald”]

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