Corporation bank earned a net profit of Rs. 1,170.25 crore in 2009-10 against Rs. 892.77 crore in the previous year, an increase of 31 per cent. According to a release the net profit for the fourth quarter went up to Rs. 312.33 crore from Rs. 260.49 crore in the year-ago period. The bank crossed annual business of Rs. 1.50-lakh crore in the fiscal and its net profit crossed the Rs. 1,000-crore mark for the first time, adds the release.
The bank's net worth increased to Rs. 5,775 crore from Rs. 4,897 crore as in March 2009. The return on equity increased to 20.26 per cent from 18.23 per cent in March 2009.
The bank's gross NPA stood at 1.02 per cent against 1.14 per cent at the end of previous fiscal and the net NPA stood at 0.31 (previous year's 0.29 per cent). In absolute terms the Gross NPAs stood at Rs.650.94 crore ( Rs.559.22 crore).
