Corporation Bank Announces Profitable Performances for the Quarter/Nine Months Ending Dec 2012

0
Spread the love

Mangalore: At the Press Meet that was held at Hotel Taj Gateway, on February 1, 2013? Ajai Kumar, Chairman and Managing Director, Corporation Bank announced the Performance Highlights for the Quarter/Nine Months that ended on 31st December 2012 in the presence of Amar Lal Daultani and B K Srivastav, Executive Directors; and? C G Pinto, General Manager of the Bank, who were along with him on the dais. In the past such kind of ” Bank Performance Highlights” press meet were held outside Mangalore, but for the First time the Bank Board of Directors decided to have it in Mangalore- being their Corporate Headquarters hometown. Large number of media personal attended this press meet.










Highlights of Quarter (Q3) that ended on December 31, 2013:
?
The Net profit of the Bank for the Quarter [Q3) stood at Rs 303.17 crore as against Rs 402.22 crore for Q3 of previous fiscal year. The operating profit of the Bank? was at Rs758.93 crore as against Rs797.74 crore for Q3 of previous fiscal year.? The total income grew by 12.8% and reached Rs 4,257.85 crore as against Rs 3,776.31 crore for Q3 of FY 2012.The Interest income also grew by 15.1% over Q3 of FY 2012 to reach Rs 3,870.89 crore as at 31.12.2012. During the quarter, the Bank opened 52 Branches across the country.
?
Highlights of nine months that ended on December 31, 2012
?
The Net profit of the Bank for the 9 months stood at Rs 1079.14 crore as against Rs1154.78 crore for the first 9 months of previous financial year. The operating profit of the Bank for the 9 months period was at Rs 2114.54 crore as against Rs 2041.71 crore for first 9 months of previous fiscal recording an increase of Rs 72.83 crore(+3.57%). During first 9 months of current financial year, the Total income stood at Rs12,306.53 crore in comparison with Rs10,501.22 crore for 9 months period showing an increase of Rs1,805.31 crore [+17.19%].
?
Corporation Bank Milestones:
?
The Bank?s network has spread across 6504 functional Units spread across 26 States and 3 Union territories. The Bank has 2 representative offices at Dubai and HongKong. As of December 31, 2012, Corporation Bank has 1653 Branches, 1306 ATMs and 3545 Branchless Banking Units. During the Nine months period that ended 31.12.2012, the Bank had opened 153 Branches across the country.


Corporation Bank, with a view to catering to the SME and Agricultural segments in a big way, has opened exclusive SME Loan centres in Fifteen Cities across the country and Five Agri Business Development Centres. To further boost the Agri lending, Gold loan shoppe have been opened in 7 places and 60 specialised Gold loan cells would be made functional very soon. It has facilitated Online Opening of Deposits to its Retail and Corporate Customers through CorpNet ? Internet Banking Platform. The Bank has also developed applications for I-Pad and Android tablets, which provide latest information, updates, interest rates and other relevant information for the users. The Bank has also enabled Internet Banking through this application for personal banking.


Prestigious Awards Received by the Bank:
?
Ajai Kumar, Chairman and Managing Director of the Bank received the SKOCH Financial Inclusion Award 2013 for SHG Initiatives by SKOCH Consultancy Services Pvt. Ltd. The Award had been given to the bank for its financial inclusion programme for SHGs in Belgaum and Tumkur districts of Karnataka State.
?
The Bank had also bagged the ” Best Mid Size Public Sector Bank (Commendation) Award”? at ?India Best Banks and Financial Institutions Awards 2012? by CNBC-TV18 and MCX Stock Exchange (MCX-SX).

Author: Alfie DSouza- Team Mangalorean


Spread the love