Corporation Bank today reported a 5.29% (YoY) increase in net profit to Rs 351.45 crore for the first quarter ended June 30, 2011, as against Rs 333.78 crore last year.
During the same period, total income of the bank rose to Rs 3,266 crore from Rs 2,293 crore in the corresponding period last fiscal.
Ramnath Pradip, CMD of the bank, in an interview with CNBC-TV18, said the recent key policy rate hike by the Reserve Bank of India (RBI) has left us with no option but to pass on the costs to consumers.
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