Shares of Corporation Bank are holding on to its gains
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Shares of Corporation Bank said its first quarter net profit fell 11.7 percent to 204.3 crore rupees from 231.5 crore rupees in the same quarter a year ago. Net Interest Income rose 14 percent to 1,080.7 crore rupees versus 944.2 crores in the same period a year ago.
The Bank said its Gross Non-Performing Assets inched up to 5.43 percent in the first quarter compared with 4.81 percent in the sequential fourth quarter. Net non-performing assets over the same periods stood at 3.55 percent versus 3.08 percent.
Corporation Bank rose 1 rupees, or 0.5 percent, to 54.30 rupees on the National Stock Exchange where 17 lakh shares were traded compared with a 5-day average of 2.6 lakh shares.
Corporation Bank's market capitalisation has dropped 24 percent to 4,557 crore rupees over the past one year as investors avoided
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Image credit: Indiatimes
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