Corporation Bank has raised the full amount of Rs 500 crore of the Basel III Compliant Additional Tier-I Perpetual Bonds (Series II) and the same has been allotted by the Securities Allotment Committee of the Board of the Bank on March 24, 2017 to the respective Bond investors with a coupon rate of 10.28% per annum.
The Bank has reported a net profit of Rs 159.02 crore for third quarter ended December 31, 2016, as compared to a net loss of Rs 388.38 crore for the same quarter in the previous year. Total income of the Bank increased by 13.20% at Rs 5839.56 crore for Q3FY17 as compared Rs 5158.52 crore for the corresponding quarter previous year.
The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 11.26%, as compared to 7.32% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 7.64% in Q3FY17.