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Corporation Bank posts net profit of Rs 61 crore in Q3 of FY 18-19


MANGALURU: The corporation bank registered a internet benefit of Rs 61 crore for the third quarter of the present fiscal in comparison to loss of Rs 1240 crore for same quarter of FY 2017-18. Net benefit larger to Rs 249 crore for 9 months finishing December 31 in comparison to loss of Rs 2216 crore for 9 months finishing December 31, 2017.


Share of CASA to total deposit larger to 29.30% as on December 31 in comparison to 25.69% as on December 31, 2017.


Cost of deposit came down to five.39% for quarter ended December 31, 2018 as in opposition to 5.64% for quarter ended December 31, 2017. Cost of deposit for 9 months stood at 5.42% as in comparison to 5.86% for 9 months ended December 31, 2017. Yield on advances has larger to 9.25% for quarter ended December 31 in comparison to 8.79% for the quarter ended December 31, 2017, a communique from the bank here on Monday, mentioned.


Recovery in written off accounts used to be Rs 318 crore in FY 2017-18. During 9 months ended December 31, recovery of Rs three,954 crore used to be made as in opposition to recovery of Rs three,152 crore made all the way through 9 months ended December 31, 2017. Risk weighted property has come right down to Rs 1,15,093 crore as on December 31 from Rs 1,39,715 crore as on December 31, 2017. The Bank has on July 23 received capital infusion of Rs 2555 crore from the Centre.


Bank is focusing more on retail industry and gradually reducing proportion of bulk in its industry. By doing this, bulk deposit has come down from 35.77% as on December 31. 2017 to 27.58% as on December 31. In appreciate of borrowal accounts referred to National Company Law Tribunal (NCLT), the Bank is holding total provision of Rs 6,412 crore in opposition to total publicity of Rs 9,076 crore this is 70.66% on these accounts as on December 31.


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