Corporation Bank has reported results for the fourth quarter and year ended March 31, 2016.
The bank has reported a net loss of Rs 510.96 crore for the quarter ended March 31, 2016 as compared to net profit of Rs 45.06 crore for the same quarter in the previous year. Total income of the bank has decreased by 3.09% at Rs 5218.62 crore for quarter under review as compared to Rs 5385.28 crore for the quarter ended March 31, 2015.
For the year ended March 31, 2016, the bank has posted a net loss of Rs 506.48 crore as compared to net profit of Rs 584.25 crore for the same period in the previous year. However, total income of bank increased marginally by 0.51% at Rs 21146.39 crore for year under review as compared to Rs 21038.90 crore for the period ended March 31, 2015.
For the year ended March 31, 2016, on the consolidated basis, the bank has registered a net loss after tax and Minority Interest & Share of Profit of Associates of Rs 502 crore as compared to net profit of Rs 572.87 crore for the same period in the previous year. However, total income of bank increased marginally by 0.59% at Rs 21154.21 crore for year under review as compared to Rs 21030.50 crore for the period ended March 31, 2015.
