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Corp Bank focus on retail brings in results

Corporation Bank said a strong retail focus has helped the performance of the bank and that its asset quality would be better for the third quarter of current fiscal with lower slippages for the period. The bank saw some deterioration in its asset quality during the second quarter with higher slippages. However, its third quarter numbers, which will be announced shortly, are expected to be better and slippages of advances are forecast to be lower than the previous quarter’s number of Rs 1180 crore. S.R. Bansal, CMD of the bank, said the bank has increased follow up efforts for recovery of dues and the December quarter will have much lesser slippages than in September quarter. He said the bank would continue to focus on boosting businesses across retail, SME and agriculture segments.

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