Corporation Bank’s profits of Rs 60.5 crore in October-December

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Corporation Bank has made a profit of Rs 60.53 crore in the October-December quarter of 2018.

In comparison, the bank had a loss of Rs 1,240.49 crore in the same period of 2017. Explain that the bank has been profitable due to the sharp fall in provision for NPA or bad loan. On a year-to-year basis, the bank’s provision of Rs 2,494.71 crore decreased from 66.23% to Rs 842.28 crores. 

Apart from this, Corporation Bank’s total quarter earnings dropped by 15.05% to Rs 4,112.32 crore from Rs 4,841.37 crore. Also, the property quality of the bank is also poor. Corporation’s gross NPA ratio increased from 15.92% to 17.36% and net NPA ratio increased from 10.73% to 11.47%. Provision coverage ratio of the bank stood at 66.13% at quarter end.
On the other hand, the share of Corporation Bank has strengthened with the results. The share of the bank in the BSE opened at Rs 25.00 with an increase of 24.70 rupees compared to the last closed price. The close of the bank is trading at Rs 25.25 with a gain of Rs 0.55 or 2.23%, as of 11 o’clock. At the same time, its last 52 weeks peak is Rs 37.30 and the lower level is 21.00 rupees.

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