Corporation Bank Annual Report- 10-11

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Press Release
Date: 29.04.2011

A Premier Public Sector Bank

Bank in its 106th year of operation

Corporation Bank scales new heights and emerges stronger
Shri Ramnath Pradeep, Chairman and Managing Director, Corporation Bank, announced the performance of the Bank after the adoption of the financial results of the Bank for the year ended 31st March 2011 by the Board of Directors. Q4 FY2011 Net Profit Operating Profit Net Interest Income Net Interest Margin 10.6% 37.0% 29.2% 2.48% FY2011 20.77% 22.73% 54.45% 2.52%

[` in Crore] `
As at : 31.03.2010 [12M] 31.03.2011 [12M] Growth Abs (y-o-y) Growth % (y-o-y)

Deposits Average Deposits Net Advances Average Advances Total Business Investments Average Investments

92,734 76,613 63,202 50,290 155,936 34,523 24,846

116,748 92,892 86,850 64,411 203,598 43,453 32,383

24,014 16,279 23,648 14,121 47,662 8,930 7,537

25.90% 21.25% 37.42% 28.08% 30.56% 25.87% 30.33%

Financial Highlights of FY 2010-11
Total Business ` 203,598 crore

↑ 30.56%

The Bank crossed the cherished milestone of ` 200,000 crore of Business during March 2011 from `155,936 crore. Deposits surged to `116,748 crore Advances grew to `86,850 crore

25.90 90% ↑ 25.90% ↑ 37.42% ↑25.87%

Investments reached `43,453 crore

Operating Profit has grown by `485.67 crore and increased to `2,622.40 crore 73% ↑22.73% Excluding the provision towards 2nd option for Pension scheme of 22.73 employees, the operating profit has shown a higher growth rate of31.38%

↑20.7 Net profit has shown a growth of `243.02 and stood at `1,413.27 crore ↑20.77%. Excluding the provision towards 2nd option scheme of retired / existing employees, the Net profit has shown a growth rate of 31.31% CRAR of the Bank under Basel II stood at 14.11% Networth of the Bank stood at `7,138 crore

↑23.60% 23.60%

Return on Equity [ROE] works out to 20.70% & ROA works out to 1.21 % Earning Per Share rose to `98.50 ↑ and the Book Value per share rose to `497.62 ↑ `98.50 Net Interest income(NII) increased by ↑54.45% to ` 2,939.74 croreNet Interest Margin (NIM) stood at 2.52% The Gross NPA decreased to 0.91% and Net NPA stood at 0.46% Bank’s service outlets crossed 5000 during FY2011 - 1361 Branches, 1250 ATMs & 2500 Branchless Banking Units During the year, the Bank opened 206 Branches, 105 ATMs and 1300 Branchless Banking Units Cost to Income ratio stood at 38.50% Clientele base increased to 122.01 lakhs during Mar ‘2011 from 103.71 lakhs as at Mar ‘2010 Business per employee moved up to `15.73 crore as at March 2011 from `12.69 crore during March 2010 Profit per employee went up to `10.92 lakh as at March 2011 from `9.52 lakhs as at March 2010

2

Highlights of Q4 FY 2010-11
Net Profit for Q4 was at `345.33 crore recorded absolute growth of `33.00 Crore over Q4 of previous fiscal. ↑10.6% after making provision for 2nd option for pension for

existing employees (amortised for 5 years ) and fully in respect of retired employees Operating Profit for Q4 was at `746.57 crore recorded absolute growth of `.201.58 Crore over Q4 of previous fiscal. ↑37.0% Interest Spread for Q4 increased by `.172.35 crores and reached `761.76 crore over Mar’10 [Q4] ↑29.2% Non-interest Income from Core Areas increased by `.64.08 crore and reached `269.87 crore ↑31.1% The NIM is at 2.5%. Board has recommended dividend @ 200% for the year 2010-11

New Initiatives
The Bank has completed Financial Inclusion target by 31st December 2010 (15 months ahead of the schedule i.e. 31.03.2012) and operationalised banking services in all 333 locations allocated by various SLBCs, 14 locations by the way of Branch Model and 319 locations by the way of BC model. 12 New Zones across the country have been created for making branches more exclusive New verticals have been created for Corporate, Mid Corporate , SME and Recovery “CorpMcash” a new technology product – mobile based valet for Retail payment launched Bank in collaboration with Commonwealth...
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