The gross NPAs of the Corporation Bank soared to 16.21% in March quarter, from 11.70% in the same period of 2016-17. Photo: MintNew Delhi: State-owned lender Corporation Bank on Saturday reported a net loss of Rs1,838 crore for the March quarter of last fiscal, mainly on account of increased provisioning. The bank had reported a net profit of Rs159 crore in the corresponding period of the 2016-17 fiscal. Corporation Bank is among the 11 lenders which have been placed under the RBI’s prompt corrective action (PCA) framework on account of high bad loans. The gross NPAs of the bank soared to 16.21% in March quarter, from 11.70% in the same period of 2016-17.

Source: Mint May 26, 2018 15:11 UTC