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  1. Corporation Bank Q3 loss at Rs 383 crore

Corporation Bank Q3 loss at Rs 383 crore

State-run Corporation Bank today reported a loss of Rs 383.37 crore for the third quarter ended December 31, 2015, due to significant jump in bad loans.

By: | New Delhi | Published: February 12, 2016 7:40 PM
Corporation Bank

Total income of the State-run Corporation Bank declined to Rs 5,158.52 crore during the quarter from Rs 5,209.54 crore in the previous fiscal.

State-run Corporation Bank today reported a loss of Rs 383.37 crore for the third quarter ended December 31, 2015, due to significant jump in bad loans.

The bank had earned a net profit of Rs 147.20 crore in the same quarter last year.

Total income also declined to Rs 5,158.52 crore during the quarter from Rs 5,209.54 crore in the previous fiscal.

Gross NPAs as a percentage to total advances rose significantly to 7.32 per cent from 4.88 per cent in the same quarter year ago.

Net NPAs went up to 4.84 per cent from 3.27 per cent at the end of December 2014.

Total provisions, excluding for income tax, increased three-fold to Rs 1,880.96 crore as against Rs 646.20 crore in the year-ago period.

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