Corporation Bank Q4FY13 Result First-Cut - Microsec

Corporation Bank Ltd announced its Q4FY13 and FY13 result on 8th May 2013.

In Q4FY13, the bank's total income increased by 17.93% QoQ and 19.16% YoY to INR1498.17 crores, driven by 5.36% and 46.63% QoQ and 11.61% and 34.04% YoY growth in its Net Interest Income (NII) and Other Income (OI) respectively. Profit After Tax (PAT) increased by 17.27% QoQ and 1.22% YoY to INR355.54 crores. Bank has increased its provision by 13.27% QoQ and 36.19% YoY to INR459.92 crores.

During the quarter, bank's loan book and total deposits expanded by 18.16% and 21.94% YoY to INR118716.65 and INR166005.45 crores respectively. On the asset quality front, bank has improved its asset quality. GNPA and NNPA improved by 46 and 44bps QoQ to 1.72% and 1.19% respectively. Moreover, Capital Adequacy Ratio (CAR) stood at 12.33%, which is 3.33% higher than the regulator's stipulated norm.

In FY13, bank's topline grew by 8.50% YoY to INR5033.78 crores. Whereas, bottom line declined by 4.74% YoY to INR1434.68 crores.

The Board of Directors have recommended a dividend of 190% i.e. INR19 per equity share of the face value INR10 each.

Source : Equity Bulls

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