Corporation Bank Q3 profit at Rs 159 cr

State-run Corporation Bank today reported a profit of Rs 159 crore for the third quarter ended December 31, as the provision for bad loans declined.
The bank had posted a loss of Rs 388.3 crore in the same quarter last year.
Total income rose to Rs 2,999.5 crore during the quarter from Rs 2,722.2 crore in the same period previous fiscal.
However, gross NPAs as a percentage to total advances rose significantly to 11.26 per cent from 7.32 per cent in the same quarter a year ago.
Net NPAs went up to 7.64 per cent from 4.84 per cent at the end of December 2015.

Total provisions, excluding for income tax, declined to Rs 933.63 crore as against Rs 1,880.96 crore in the year-ago period.