Corporation Bank FY06 net up 10.5 pc to Rs 444.46 crore

Mumbai, April 26 (UNI) Public sector Corporation Bank has posted 10.5 per cent rise in net profit to Rs 444.46 crore for the year ended March 31, 2006, as compared to Rs 402.16 crore to the previous year.

Announcing the results, the company said its total income went up by 13.6 per cent from Rs 2,814.37 crore in FY 04-05 to Rs 3,197.93 crore for FY 05-06.

As per the consolidated results, the Group has posted a net profit of Rs 443 crore for the year ended March 31, 2006, as compared to Rs 350.69 crore in the previous year, registering a growth of 26.3 per cent.

Total Income rose by 16.5 per cent from Rs 2762.27 crore in FY 04-05 to Rs 3218.94 crore for FY 05-06.

The Board has declared a final dividend 35 per cent for the year 2005-06. With this the total dividend payout by the Bank for the year 2005-06, including the interim dividend at the rate of 35 per cent already paid will be 70 per cent.

UNI SN KD AG1612