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Restructured assets are at Rs 1,163 crore, but our portfolio taken as a percentage is 5.35 percent of the total credit SR Bansal, CMD, Corporation Bank said.
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Year-on-year basis, the bank is short by Rs 472.57 crore mainly because of additional investment depreciation of Rs 305.82 crore and additional non-performing asset provisions of Rs 135 crore and reduction in profit on sale of investment of around Rs 31 crore.
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Angel Broking expect the Sensex as well as their coverage companies to report a muted revenue performance. The research firm expects Sensex companies to report a 2.4% yoy growth in revenues. For their coverage universe, they expect growth in revenues to come in at 4.1% yoy.
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Angel Broking has come with its March`13 quarterly earning estimates for banking sector. The research firm expects private banks to report healthy earnings growth of 23.0 percent yoy, however, the PSU banks with expected earnings decline of 13.1 percent yoy, would drag the overall earnings performance (de-growth of 3.2 percent yoy).
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Ajai Kumar, CMD of Corporation Bank said that slippages in Q3 have not been more than 1.6 percent and it was mainly due to high levels of recovery and upgradation. According to him, the bank is on track to contain its non-performing assets or NPAs.
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Ajai Kumar, chairman and managing director of Corporation Bank says, gross NPAs have increased a bit. "
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Corporation Bank is to announce its fourth quarter results. According to CNBC-TV18‘s estimates, Q4FY12 its net interest income (NII) is seen up 17% at Rs 892.5 crore versus Rs 761.8 crore.
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Ajai Kumar, chairman and managing director of Corporation Bank tells CNBC-TV18 that the bank is on projected growth track. NIM came in at 2.66% for the third quarter and the bank is maiming to make it to the 3% mark by the next quarter.
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State-owned Corporation Bank is likely to report a profit after tax of Rs 403 crore in the October-December quarter of FY12, a growth of 5% as compared to Rs 382.4 crore in the corresponding quarter of last fiscal.
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Corporation Bank is likely to report a profit after tax of Rs 332 crore in the second quarter of FY12, a decline of 5.5% as compared to Rs 351.7 crore in the corresponding quarter of last fiscal, according to CNBC-TV18 estimates.
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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. "We are looking to raise rates by approximately another 50 basis points (bps)."
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Corporation Bank is to announce its first quarter results. According to CNBC-TV18's estimates, Q1FY12 net interest income (NII) is seen up 8% at Rs 755 crore versus Rs 697 crore.
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Top lender State Bank of India will likely be alone among major Indian banks to post a fall in profit for the June quarter, on slower credit growth and higher provisions, but margins for most banks may shrink on higher deposit rates.
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State-run Corporation Bank is set to report 23% growth in fourth quarter FY11 profit after tax of Rs 383.4 crore as against Rs 312 crore in fourth quarter FY10.
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Emkay Global Financial Services has come out with its earning estimates on banking sector for the quarter ended March 2011. According to the research firm, Corporation Bank March quarter net interest income (NII) are expected to go up by 25.9% at Rs 805.4 crore, year-on-year, (YoY) basis.
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Sharekhan has come out with its earning estimates on banking sector for the quarter ended March 2011. According to the research firm, Corporation Bank March quarter net interest income (NII) are expected to go up by 37.1% at Rs 877 crore, year-on-year, (YoY) basis.
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Unicon Investment has come out with its earning estimates on banking sector for the quarter ended March 2011. According to the research firm, Corporation Bank March quarter net interest income (NII) are expected to go up by 43.3% at Rs 917.1 crore, year-on-year, (YoY) basis.
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Mid-cap Indian banks reported strong profits for October-December on Friday, riding on robust loan growth and increased corporate activity, but rising interest rates could weigh on margins going forward.
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In an interview with CNBC-TV18’s Latha Venkatesh, Ramnath Pradip, CMD, Corporation Bank, spoke about the results and his outlook for the bank.
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Corporation Bank is set to announce its results for the quarter ended December 2010. According to CNBC-TV18 estimates, its net profit is expected go up by 16.7% to Rs 356 crore from Rs 305 crore on year-on-year basis.
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Angel Broking has come out with its earning estimates on banking sector for the quarter ended December 2010. According to the research firm, Corporation Bank December quarter operating income are expected to go up by 13% to Rs 962 crore, Year-on-Year, (Y-o-Y) basis.
