InvestorQ : What was so special that Corporation Bank reported such reported such fantastic numbers for the Dec-19 quarter?
Anamika Sodhani made post

What was so special that Corporation Bank reported such reported such fantastic numbers for the Dec-19 quarter?

Answer
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7 months ago


Corporation Bank reported 7-fold increase in its consolidated net profit to Rs.421 crore in third quarter ended December 31, 2019. The higher profits were largely driven by higher interest income even through provisions for bad loans also surged. Total income for the bank increased nearly 50% to Rs.6052. The one concern remains the gross NPA level which continues to remain elevated. Gross NPAs stood at Rs.19,557 crore in the quarter. Making it one of the most stretched PSU banks in India. You need to be cautious of entering such stocks as there is still a lot of vulnerability in these stocks due to bad loans.