Corporation Bank Q4 net up 73.55 pc

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New Delhi, Apr 26: The Corporation Bank today announced that it has posted a 73.55 per cent jump in its net profit at Rs 205.60 during the fourth quarter ending March 2008, against Rs 118.47 crore over the same period a year ago. The Mangalore-based bank said tts total income has gone up to Rs 1,464.71 crore during Q4FY08 as compared to Rs 1,142.65 crore, registering an increase of 28.18 per cent.

''The major contributing factors for the top-line and bottom-line growth were increase in income from core business, better NPA Management, particularly sharp declie in fresh delinquencies, and treasury operations,'' Bank's Chairman and Managing Director B Sambamurthy told reporters here while announcing the results.

He said the Board of Directors at its meeting held here today, has recommended a final dividend of Rs six per share of Rs 10 each for the year 2007-08 subject to approval of the shareholders in the Annual General Meeting to be held in August this year.

With this, the total dividend payout by the Bank for the year 2007-08, including the interim dividend of Rs 4.50 per share of Rs 10 each already paid will be Rs 10.50 per share of Rs 10 each.


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