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Monday, 22 May 2017

Corporation Bank posts Rs 160 cr profit in Q4

State-owned lender Corporation Bank has reported its standalone net profit at Rs 159.98 crore for the fourth quarter ended March 31, 2017, despite rise in bad loans. The bank had posted a standalone net loss of Rs 510.96 crore in corresponding quarter of previous fiscal, Corporation Bank said in a filing to the BSE.

Also, total income of the bank rose by 9.8 per cent to Rs 5,730.48 crore in Q4 FY17, from Rs 5,218.62 crore in Q4 FY16. During the quarter under review, the bank’s gross non-performing assets jumped significantly to 11.70 per cent of total loans, compared with 9.98 per cent in the year-ago quarter.

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Riyanshi

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