Media Release
Mangalore, Jul 28: The Corporation Bank performance highlights for the quarter which ended on June 30 was held on July 26 at the bank Mangalore headoffice, Pandeshwar .
Amar Lal Daultani and B K Srivastav, executive directors of Corporation Bank addressed on the occasion of declaration of Unaudited Financial Results of the Bank for the quarter.
K Rama Murthy and C G Pinto, general managers along with other dignitaries of the bank attended this meet.
Amar Lal Daultani announced the performance of the bank after the adoption of the financial results for the quarter ended June 30 by the board of directors.
The earnings were stated as follows:
Net Profit: The Net profit of the Bank for the Quarter [Q1] ended June 13 increased to Rs 377.98 crore as against Rs 370.26 crore for Q1 of previous fiscal recording an increase of Rs 7.72 crore [ 2.08%].
Operating Profit:The operating profit of the Bank for the Quarter [Q1] ended June’13 was at Rs 995.00 crore as against Rs 669.86 crore for Q1 of previous fiscal recording an increase of Rs 325.14 crore [ 48.54%].
Earnings per share was at Rs 98.88 for the quarter ended June 30 as against Rs 100 per share for Q1 of FY 2012-13 (annualized).
Book Value per Share as on June 2013 rose to Rs 650.30 as compared to Rs 583.69 as at June 2012.
Return on Equity was at 15.50% and ROA works out to 0.82%. (Both annualized)
The total business of the bank as on 30.06.13 stood at Rs 278,369 crore as compared to Rs 232,649 crore as at June 2012.
He continued to say during Q1 of current financial year, the total income stood at Rs 4,852.69 crore in comparison with Rs 3,978.23 crore in Q1 of previous fiscal showing an increase of Rs 874.46 crore [ 21.98%].
"The Bank’s network has spread across 6,868 functional Units spread across 26 States and 3 Union territories. The Bank has two representative offices at Dubai and HongKong. 1731 Branches,1569 ATMs and 3568 Branchless Banking Units as at June 30. During the quarter, the Bank opened 24 Branches across the country," he added.
The bank has declared a dividend of Rs 19 on a paid up equity share of Rs.10/- each to the share holders for the Financial year 2012-13. The Government of India Share of Dividend amounting to Rs. 173.80 crore was handed over to P Chidambaram, Union Finance Minister.