Corporation Bank back in black, Q4 profit at Rs 160 crore
Gross NPAs rose to 11.70% from 9.98% in the same quarter a year ago.business Updated: May 20, 2017 19:27 IST
State-owned Corporation Bank today posted a profit of Rs 159.98 crore for the last quarter of 2016-17 fiscal even though bad loans rose.
In contrast, the bank had a net loss of Rs 510.9 crore in the January-March quarter of 2015-16, Corporation Bank said in a statement.
Total income of the bank rose to Rs 5,730.48 crore in the the quarter, as against Rs 5,218.62 crore in the year-ago period.
As far as asset quality of the bank is concerned, the gross NPAs as a percentage to total advances rose to 11.70% from 9.98% in the same quarter a year ago.
Its net NPAs also increased to 8.33%, from 6.53% at the end of March 2015.
However, the bank’s provision during the quarter was reduced to about half to Rs 948.01 crore as against Rs 1,960.20 crore in the same period a year ago.
For the entire 2015-16, the bank recorded a profit of Rs 561.20 crore, compared to loss of Rs 506.48 crore in the previous fiscal.
However, total income rose to Rs 22,561.78 crore in the last financial year from Rs 21,146.39 crore in 2015-l6.