Corporation Bank has announced a ₹ 130 crore net profit for the second quarter of 2019-20 ended September 30 as against ₹ 103 crore net profit during the same period in 2018-19.
A release from the bank here said that the operating profit has increased to ₹ 1,016 crore in Q2 as against ₹ 899 crore in Q2 of last year. The bank has recorded an overall positive growth in all parameters year-on-year with 9.29 % growth in deposits and 4.01 % growth in advances.
While focussing more on retail deposits and advances, the bank worked hard to reduce the Non Performing Assets.
The net NPA came down to 5.59 % as in Q2 as against 11.65 % in Q2 of last year and 5.69 % as in Q1 of 2019-20. The Gross NPA came down to 15.43 % in Q2 as against 17.46 % last year.
