Click here to Download Android App of Latest Bank Update


Do you want to share your banking article with the viewers of Latest Bank Updates...
Send on
erpanel12@gmail.com


Back to Top
X

Like Latest Bank Updates on Facebook

Contact Us

Corporation Bank Q1 net profit rises 67%

State-owned Corporation Bank has reported a rise of 67.5% in net profit at Rs 60.15 crore for the first quarter ended June 30, 2017.
Bank’s net profit in the April-June quarter of previous fiscal was at Rs 35.92 crore. However, total income of the bank was lower than a year earlier at Rs 5,112.99 crore during June quarter of 2017-18, as against Rs 5,241.11 crore in the same period year ago, due to fall in wholesale and retail earnings, it said in a regulatory filing.

Bank’s asset quality was dented further, both year-on- year and quarter-on-year, as gross non-performing assets (NPAs) spiked to 15.49% of gross advances as on June 2017 against 11.01% year ago and 11.70% in previous March quarter.
Net NPAs or bad loans too turned higher at 11.14% of the net advances by June-end 2017, as against 7.22% year-ago same period and 8.33% at end-March 2017. Value-wise gross NPAs were worth Rs 21,712.67 crore by end of first quarter of current fiscal, against Rs 15,726.12 crore at end-June 2016.
Net NPAs were Rs14,857.53 crore as against Rs9,882.15 crore for the two sets of comparable time-frames.
Likewise, the bank allocated a higher provision of Rs1,510.18 crore as NPA provision for June quarter of 2017-18, up from Rs 874.05 crore parked aside for June 2016 quarter. The provision coverage ratio as on June 30, 2017 stood at 51.49%.
Corporation Bank said it is carrying a provision of Rs91.88 crore as on June 30, 2017, being 15% of the outstanding food credit availed by Punjab government.
Share:

No comments:

Post a Comment

Important keywords

Abhyudaya Co-op Bank Ltd AIBEA AIBOA AIBOC Allahabad Bank Andhra Bank Arunachal Pradesh Rural Bank Assam Co-operative Apex Bank Ltd Atal Pension Yojana(APY) Axis Bank Balance inquiry number BaNCS Bandhan Bank Bank of Baroda Bank of India Bank of Maharashtra Bankers Banks Banks Board Bureau BEFI Bharatiya Mahila Bank Bipartite Settlement CANARA BANK Cash Reserve Ratio(CRR) Catholic Syrian Bank CBS CENTRAL BANK OF INDIA Cheque Truncation System City Union Bank Corporation Bank COSMOS Bank Credit Card Credit Officer DA DCB Bank Dena Bank Dhanlaxmi Bank Federal Bank Finacle FRDI Gandhinagar Nagarik Co. Op. Bank GSC Bank HDFC Bank IBA IBPS ICICI Bank IDBI Bank IDFC Bank India Post Payments Bank Limited INDIAN BANK Indian Overseas Bank IndusInd Bank J & K Bank Kalol Nagrik Sahakari Bank Kangra Central Co-operative Bank Karnataka Bank Karur Vysya Bank Kerala Gramin Bank Kotak Mahindra Bank Lakshmi Vilas Bank Langpi Dehangi Rural Bank Meghalaya Rural Bank Mehsana Urban Co. Operative Bank Ltd Mizoram Rural Bank NABARD Nagaland Rural Bank Nainital Bank NPA NPCI NPS Oriental Bank of Commerce PPF Pradhan Mantri Sneh Bandhan Yojana Prompt Corrective Action Punjab & Sind Bank Punjab National Bank Q1 Results Q1FY17 Q1FY18 Q2 Results Q2FY17 Q2FY18 Q3 results Q3FY17 Q3FY18 Q4 Results Q4FY16 Q4FY17 Rajkot Nagarik Sahakari Bank RBI RBL Bank SBBJ South Indian Bank Sovereign Gold Bonds Specialist Officer SSBEA State Bank of Hyderabad state bank of india State Bank of Mysore State Bank of Patiala State Bank of Travancore strike Sukanya Samriddhi SYNDICATE BANK The Kalupur Co-Operative Bank UCO Bank UFBU Unified Payments Interface Union Bank of India United Bank of India UPI USSD Vijaya Bank Yes Bank

Contact Form

Name

Email *

Message *