Corporation Bank Q2 net up 17% at Rs 189 cr

Net interest income grew 18% to Rs 1,161 cr on lower cost of deposits.

Public sector Corporation Bank said second quarter profits rose 17% to Rs 189 crore due to higher business from ATM and card transactions and trading profit from treasury operations. The Mangaluru-headquartered bank had reported profits of Rs 160.51 crore in the July to September period last year.

Net interest income grew 18.13 per cent to Rs 1,161.29 crore on lower cost of deposits.

The bank's gross non performing assets rose to 5.32 per cent and net NPAs at 3.54 per cent for the second quarter ending September. The gross NPA was at 4.45 per cent and net NPA at 2.92 per cent during the same period last year, the bank said in a notification to the Bombay Stock Exchange.