Financial Daily from THE HINDU group of publications
Thursday, Jan 24, 2002
Financial Daily from THE HINDU group of publications Thursday, Jan 24, 2002 |
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Money & Banking
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Public Sector Banks Corporate Results - Public Sector Banks Corpn Bank Q3 net up 10.24 pc Our Bureau MUMBAI: The Mangalore-based Corporation Bank has recorded a 10.24 per cent rise in net profit for the quarter ended December 31, 2001, at Rs 91.45 crore as compared to Rs 82.96 crore in the corresponding period in the previous year. Total income grew to Rs 602.08 crore (Rs 521.10 crore), which is inclusive of the total interest income at Rs 500.12 crore (Rs 452.00 crore) and the total non-interest income at Rs 101.96 crore (Rs 69.10 crore). The total expenditure for the quarter under review was at Rs 434.25 crore (Rs 375.08 crore). The bank's net worth has gone up by 51.4 per cent to touch Rs 2,060 crore (Rs 1,361 crore) in the period under review. The cost of deposits has been brought down to 7.7 per cent (8.1 per cent) as on December 31, 2001. The interest spread for the period was at Rs 476.88 crore (Rs 440.41 crore). The deposits stood at Rs 17,929 crore (Rs 15,096 crore). Advances for the period stood at Rs 9,710 crore (Rs 7,758 crore).
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