Registered Record growth by Corporation Bank

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Corporation Bank 8may13

Mangalore, May 08: It has been revealed by Ajai Kumar, chairman and MD of corporation bank that total business of corporation bank has registered a growth of Rs.284,722 crores (20.33%) as on 31.03.2013 as compared to Rs.236,611 crore in the corresponding period in 2012.

He further said this figure has been derived from the audited financial results for the quarter/year ended March 13, 2013.

He said the deposit of the bank has been increased by 21.94% (Rs 166,005 crores) as at 31.03.2013 as against to the year 2012 for the same period (Rs136,142 crores).The growth in advances registered Rs 118,717 crores as on March 31,2013 as compared to Rs 100,469 crores in 2012.Thus increase of 18.16% has been registered.

The agricultural advances of the bank stood at Rs 9466 crores as at 31.03.2013, there by registered a growth by 32.6% over the previous year.SME advances stood at Rs 19,518 crores as on March 31, 2013, thereby registered a growth of 36.1%.

The net profit of the bank for the quarter ended March 31, 2013 increased to Rs 355.53crore as against Rs 351.26 crores of previous fiscal year. The operating profit for the period was Rs 922.46 crores,he said.

The net profit of the bank for the year ending 31.03.2013 has been decreased marginally to Rs 1,434.67 crore as against Rs 1,506.04 crores in 2012 for the same period. The operating profit for the period was Rs 3037 crores as against Rs 2855.97 crore for the corresponding period in 2012.

During the current financial year, the total income stood at Rs 16,942 crores (16.76%) as compared to the corresponding period in 2012.

The bank has 1707 branches, 1425 ATMS and 3545 branchless banking units as on 31.03.2013 and opened 207 new branches across the nation during period.

The net worth of the bank stood at Rs 9566 crore as on March 31.03.2013 as compared to Rs 8276 crore during corresponding financial period in 2012.

The bank has also opened exclusive SME loan centres in fifteen cities and five agri business development centres.To further boost agri lending, it has opened Gold loan shoppe in seven places and 60 specialized gold loan cells are likely to be opened.

The bank has also launched to premium savings bank schemes named “Corp Signature” and “Corp super” and two new products-Corp saral savings account and corp mobile banking App.

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