Corporation Bank net profit rises 66%
Corporation Bank has logged a 66 per cent jump in net profit at Rs 151.81 crore in the third quarter ended December 31, 2002, as against Rs 91.45 crore in the corresponding quarter of the previous financial year. The rise in bottomline is mainly on account of profit from sale of investments vaulting by 137.54 per cent to Rs 102.57 crore (Rs 43.18 crore) and savings as a result of a 100 basis points reduction in the cost of deposits (from 7.70 per cent in QIII of 2001-02 to 6.70 per cent in the reporting quarter). In the nine months ended December 31, 2002, the bank
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