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Corporation Bank registered a loss of ₹ 1,838.39 crore during the fourth quarter of 2017-18 as against a net profit of ₹ 159.98 crore in the corresponding period of 2016-17.
Information furnished by the bank to the stock exchanges showed the provisions for non-performing assets (NPAs) at ₹ 4,441.29 crore during Q4 of 2017-18 as against ₹ 852.97 crore during the corresponding period of the previous fiscal.
The gross and net NPAs of the bank increased to 16.21 per cent (11.70 per cent) and 11.33 per cent (8.33 per cent), respectively, during the period.
It may be mentioned here that the Reserve Bank of India had placed Corporation Bank under the prompt corrective action framework in December 2017 in view of high NPAs.
The operating profit of the bank before provisions and contingencies stood at ₹ 989.44 crore during the Q4 of 2017-18 as against ₹ 1054.55 crore in the corresponding period the previous year.
The net interest income of the bank stood at ₹ 1,300.72 crore during the fourth quarter of 2017-18 as against ₹ 934.37 crore in the corresponding period of 2016-17. The other income of the bank came down to ₹ 449.35 crore (₹ 892.44 crore) during the period.
On Friday, the scrip of Corporation Bank closed at ₹ 25.15 on BSE, up 0.80 per cent, against the previous close of ₹ 24.95.
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