Corporation Bank’s Q2 net rises 14%

Corporation Bank has reported results for the second quarter ended September 30, 2011.  

The bank’s net profit for the second quarter of the current fiscal has grown 14.04% to Rs 401.11 crore as compared to Rs 351.73 crore for the corresponding quarter of the last year. The bank’s total income has surged 46.36% at Rs 3489.47 crore for the quarter under review as compared to Rs 2384.24 crore for the second quarter of the previous year.

The banks’ gross NPA stood at 1.32% for the quarter ended September 30, 2011 as compared to 1.05% in the quarter ended September 30, 2010. Its net NPA also rose at 0.91% in Q2FY12 as compared to 0.39% in Q2FY11. Further, the bank’s Return on Assets (ROA) has declined to 1.17% for the quarter from 1.30% in the similar quarter of the last year.