Corporation Bank
Corporation Bank posted a 32.7 per cent rise in total income to Rs 1554.80 crore, non interest income psoted an excellent growth of 37.8 per cent to Rs 198.50 crore for the year ended March 31, 1999. It posted a rise of 15.21 per cent to rs 192.03 crore.
The major problem for the bank has been thye diminishing margins in corporate credit, rising cost of cost of funds and declinging spreads. The interest spread earned by the bank declined to 3.3 per cent from 4.4 per cent in the repivous year. However, volume growth is up with advances increasing by 46 per cent to Rs 6286 crore. Interest costs have risen by a whopping 53 per cent to Rs 978.16 crore, due to a rise in cost of funds and als