Corp Bank net surges 18.1%

Corporation Bank today posted a net profit of Rs 118.47 crore for the quarter ended March 31, up 18.15 per cent compared with Rs 100.27 crore for the same quarter last year.

The total income for the fourth quarter ended March 31 was Rs 1,142.65 crore while the same was Rs 838.47 crore a year ago, the bank informed the Bombay Stock Exchange.

The board of directors of the bank has declared a final dividend of 50 per cent for the year 2006-07 subject to shareholders' approval. With this, the total dividend payout by the Bank for the year 2006-07, including the interim dividend at 40 per cent already paid.