Corporation Bank increases turnover, poised for good growth

Tirupati, Mar 2(UNI) The public sector, Corporation Bank had registered a turnover of Rs 51,787 crore by December end of 2005 and it is expected to touch Rs 55,000 crore by the end of the current fiscal, Chairman and Managing Director V K Chopra said.

Addressing a press conference here he said the bank, which is one of the strong public sector banks set to complete 100 years on March 12, would be recording the highest growth rate by March end, compared to last year. The deposits are also expected to reach Rs 33,000 crore by the end of March 2006.

The gross profit of the bank in the last nine month was Rs 782.36 crore, he said, adding the bank had already paid 35 per cent interim dividend to share holders during the current finacial year.

The NPA was brought down to 3.02 percent compared to 4.45 percent as on December 2004, he claimed adding the net NPA was 0.80 percent. It is expected to be come down by six percent by end of March, 2006, he said.

He said the bank, which has 852 online ATMs, was the second largest among public sector banks in this aspect. The number of online ATMs would rise to 1050 by end of the current fiscal.

The bank would also have 32 more branches by the end of March this year, rising the total number to 850, he said.

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