Annual Report 2006-2007 of Corporation Bank

It is a broadly described annual report of Corporation Bank in the year of 2006-2007. During the financial year, The Bank total business increased from Rs. 56,839 Crore as at 31^st March 2006, to Rs. 72,307 Crore registering a growth of 27.21%. The total income of the Bank has increased from Rs. 3,100 Crore to Rs. 3,996 Crore during the year. The Gross Profit for the financial year 2006-07 stood at Rs. 1140.04 Crore as compared to Rs. 953.62 Crore in the financial year 2005-06 registering an increase of Rs. 186.42 Crore (19.55 %). The Bank registered a Net Profit of Rs. 536.14 Crore for the financial year 2006-07 compared to Rs. 444.46 Crore in the financial year 2005-06. The Net Worth of the Bank improved to Rs. 3,765 Crore as on 31^st March 2007 from Rs. 3,375 Crore as on 31^st March 2006.

The Board of Directors of the bank has recommended the final dividend of @50% for the financial year 2006-07. The total dividend for the year 2006-07 will be @90%.

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