Corporation Bank is likley to participate in the nationwide strike on February 28, 2012 as it has received notices from AIBEA, BEFI, INBEF, NCBE, NOBW, AIBOA, and NOBO, in support of some of their demands. A section of the bank employees are likely to take part in the proposed strike, if the strike materializes. The bank’s normal functioning is likely to get affected with this strike.
Recently, bank has reported a rise of 5.18% in its net profit of Rs 402.22 crore for the quarter ended December 31, 2011 as compared to Rs 382.42 crore for the same quarter in the previous year. Total income has increased by 39.08% from Rs 2,735.74 crore for Q3FY11 to Rs 3,804.50 crore in the quarter under review.
