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Shares of the Corporation Bank surged 6% after the bank reported better than expected results. The bank posted net profit of Rs 356 crore for the quarter ended March 31, 2013.
Net interest income (interest income minus interest expanded) grew 11.6% at Rs 931 crore against Rs 834 crore
The board of Corporation Bank recommended a dividend of Rs 19 per share for the year ended March 2013.
The bank's ratio of net non-performing assets to net advances stood at 1.19% as on 31 March 2013, against 1.63% as on 31 December 2012 and 0.87% as on 31 March 2012.
Shares of the bank were seen trading at Rs 394.50, higher by 4.63% on BSE at 2.40 pm IST. The stock touched an intra-day high of Rs 401.
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