Corporation bank records 11.03 pc in net profit

{image-Corporation bank_25102008.jpg news.oneindia.in}Mangalore, Oct 25: The Mangalore-based public sector Corporation Bank has registered a growth rate of 11.03 per cent in the net profit for the half year ended September 30 to increase to Rs 375.81 crore compared to Rs 338.49 crore recorded in the corresponding period last year.

According to a press release issued here on Saturday, Oct 25 by the bank, M B Sambamurthy, the Chairman and Managing Director of the bank announcing the results for the Q2 after the meeting of the Board of Directors of the bank at Mumbai said that the net profit of the bank was up by 18.7 per cent for the Q2 while the operating profit for Q2 was up by 119.3 per cent. On quarter to quarter basis, the Net Profit recorded a growth of Rs 30.13 crore at 18.70 per cent over September, 2007. The total business of the bank as on September 30 stood at Rs 1, 03825 crore.

UNI