Corporation Bank - Q2 FY13 Results First Cut - Microsec

Corporation Bank Ltd has announced its Q2FY13 on 9th November 2012.

The bank's total income marginally decreased by 0.60% QoQ and 0.33% YoY to INR1129.20 crores. It is mainly, because of tepid growth in its Net Interest Income (NII) by 8.02% YoY and de-growth of other income by 16.29% YoY to INR803.24 and 325.96 crores respectively.

During the quarter, Bank's loans book and total deposits expanded by 20.25% and 19.17% YoY to INR98161.46 and INR143738.28 crores respectively. On the assets quality front, bank asset quality is still the matter of concern. GNPA and NNPA increased by 26 and 18bps QoQ and 65 and 47bps YoY to 1.97% and 1.38% respectively. Moreover, Net Interest Margin (NIM) decreased by 3bps QoQ and 17bps YoY to 2.26%. However, Capital Adequacy Raito (CAR) is 405bps or 4.05% higher than the regulator stipulated norm.

Source : Equity Bulls

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