Daijiworld Media Network - Mangaluru (SP)

Mangaluru, Nov 7: Corporation Bank has registered net profit of Rs 130 crore during the quarter ended September30 this year. It had earned net profit of Rs 103 crore during the corresponding quarter of the previous year. This time, it has registered net growth of 27 percent.

The bank's profit stood at Rs 103 crore for the quarter ended June this year.

Operating profit of the bank has risen to Rs 1,016 crore, thus showing a growth of 13 percent. In comparison, the operating profit for 2018 stood at Rs 899 crore.

The bank has shown good growth in all the parameters. Deposits have grown by 9.29 percent as compared to previous year while advances have shown 4.01 percent increase. Non-performing assets have come down from 11.65 percent in September 2018 to 5.59 percent. The bank has exceeded target of 40 percent advances set for priority sector by reaching 43.76 percent. Loan amount provided to weaker sections of the society has touched Rs 17,125 crore, the bank said in a release.