Corporation Bank & Syndicate Bank Q1 results

CORPORATE SCORECARD

Corporation Bank profits increase marginally

Hit by heavy depreciation in its investment portfolio, Corporation Bank posted a 4 per cent increase in net profit at Rs 184 crore for the first quarter of 2008-09 compared to Rs 177 crore in the corresponding period last year. Total income rose 16.75 per cent to Rs 1,446 crore in April-June period this year as against Rs 1,238.8 crore in the year-ago period.

Syndicate Bank profit falls 60%

Syndicate Bank, the state-run lender, had its biggest drop in more than three weeks after saying first-quarter profit fell 60 per cent. Net income declined to Rs 87.89 crore in the three months ended June 30 from Rs 221 crore a year earlier.