Corporation Bank has recorded a growth of Rs.243.02 crore in net profit, which stood at Rs.1,413.27 crore during the year ended March 31, 2011, an increase of 21 per cent, said Ramnath Pradeep, Chairman and Managing Director of the bank.
Total business stood at Rs.203,598 crore, an increase of 31 per cent.
The bank crossed the milestone of Rs.2- lakh crore of business during March 2011 from Rs.1,55,936 crore. Deposits rose to Rs.116,748 crore, an increase of 26 per cent.
Looking forward, the bank is aiming at a total business of Rs.265,000 crore in 2011-12.
It plans to open 200 new branches and exploring the possibility of opening branches in Hong Kong, Tanzania, Nepal and Vietnam.
