Corporation Bank net profit up by less than one percent

Nationalised financial institution, Corporation Bank on Saturday said its net consolidated profit during 2014-15 increased marginally by less than one percent at Rs. 572.87 crore against Rs.568.48 crore in 2013-14.

The bank's total income on a consolidated basis for the period under review rose by 7.2 percent at Rs.21,030.50 crore compared to its earning of Rs.19,615.75 crore during 2013-14.

Its net non-performing assets in the review period increased by 40.39 percent at Rs.4,464.97 crore against Rs. 3,180.55 crore in the earlier fiscal.

Deposits in the bank was clocked at Rs.199,345.81 crore which is an increase by 3.1 percent compared to 2013-14. The borrowings in the review period declined a little over 20 percent at Rs. 10,414.90 crore against 13,021.44 crore in 2013-14.

On its assets front, the bank registered a growth of 1.78 percent.

The condition of its balance with other banks and money at call at short notice period increased dramatically by 419.24 percent at Rs.2,589.97 crore against the availability of Rs. 498.80 crore during 2013-14.

During 2014-15, the bank's cash and gold reserves with the Reserve Bank of India fell by 26.14 percent at Rs.10,148.93 crore against Rs.13,740.20 crore in 2013-14.