Corporation Bank on Friday reported a net profit of Rs. 305 crore in the third quarter ended December 31, 2009, as against Rs. 256.47 crore in the corresponding quarter in the previous year, an increase of 18.9 per cent.

The profit for the first nine months ended December 31, 2009, has improved by 35 per cent to Rs. 857.92 crore from Rs. 632.28 crore in 2008-09.

Total business stood at Rs. 1,41,121 crore recording a year-on-year growth of 32.1 per cent. Deposits have increased by 36.4 per cent to Rs. 84,411 crore from Rs. 61,894 crore. Net worth of the bank stood at Rs. 5,754 crore against Rs. 4,861 crore. The bank has added more than 150 branchless banking units in Karnataka, Andhra Pradesh, Tamil Nadu, Kerala, Haryana and Gujarat, thus taking the number of such units to more than 920, the bank said in a statement.

It plans to increase this facility to 2,000 villages by March 31 this year.

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