​Shares of Corporation Bank are holding on to its gains

Shares of Corporation Bank, a mid sized lender, held on to gains despite a modest fall in quarterly numbers as its non-performing assets remained under check, unlike its peers in the public sector.

Corporation Bank said its first quarter net profit fell 11.7 percent to 204.3 crore rupees from 231.5 crore rupees in the same quarter a year ago. Net Interest Income rose 14 percent to 1,080.7 crore rupees versus 944.2 crores in the same period a year ago.

The Bank said its Gross Non-Performing Assets inched up to 5.43 percent in the first quarter compared with 4.81 percent in the sequential fourth quarter. Net non-performing assets over the same periods stood at 3.55 percent versus 3.08 percent.

Corporation Bank rose 1 rupees, or 0.5 percent, to 54.30 rupees on the National Stock Exchange where 17 lakh shares were traded compared with a 5-day average of 2.6 lakh shares.

Corporation Bank's market capitalisation has dropped 24 percent to 4,557 crore rupees over the past one year as investors avoided banking stocks in the face of an industrial downturn.

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