Date: 29.04.2011
A Premier Public Sector Bank
Bank in its 106th year of operation
Corporation Bank scales new heights and emerges stronger
Shri Ramnath Pradeep, Chairman and Managing Director, Corporation Bank, announced the performance of the Bank after the adoption of the financial results of the Bank for the year ended 31st March 2011 by the Board of Directors. Q4 FY2011 Net Profit Operating Profit Net Interest Income Net Interest Margin 10.6% 37.0% 29.2% 2.48% FY2011 20.77% 22.73% 54.45% 2.52%
[` in Crore] `
As at : 31.03.2010 [12M] 31.03.2011 [12M] Growth Abs (y-o-y) Growth % (y-o-y)
Deposits Average Deposits Net Advances Average Advances Total Business Investments Average Investments
92,734 76,613 63,202 50,290 155,936 34,523 24,846
116,748 92,892 86,850 64,411 203,598 43,453 32,383
24,014 16,279 23,648 14,121 47,662 8,930 7,537
25.90% 21.25% 37.42% 28.08% 30.56% 25.87% 30.33%
Financial Highlights of FY 2010-11
Total Business ` 203,598 crore
↑ 30.56%
The Bank crossed the cherished milestone of ` 200,000 crore of Business during March 2011 from `155,936 crore. Deposits surged to `116,748 crore Advances grew to `86,850 crore
25.90 90% ↑ 25.90% ↑ 37.42% ↑25.87%
Investments reached `43,453 crore
Operating Profit has grown by `485.67 crore and increased to `2,622.40 crore 73% ↑22.73% Excluding the provision towards 2nd option for Pension scheme of 22.73 employees, the operating profit has shown a higher growth rate of31.38%
↑20.7 Net profit has shown a growth of `243.02 and stood at `1,413.27 crore ↑20.77%.
Excluding the provision towards 2nd option scheme of retired / existing employees, the Net profit has shown a growth rate of 31.31% CRAR of the Bank under Basel II stood at 14.11%
Networth of the Bank stood at `7,138 crore
↑23.60% 23.60%
Return on Equity [ROE] works out to 20.70% & ROA works out to 1.21 % Earning Per Share rose to `98.50 ↑ and the Book Value per share rose to `497.62 ↑