Corporation Bank spurns on gallantly

4:59 PM, Tuesday, November 1st, 2011

corporation-bankMangalore: The Corporation Bank, started in Udupi as Canara Banking Corporation and later established its head office in Pandeshwar, Mangalore, with over 75 years of history, has made phenomenal progress in recent years, winning many awards at national level for its clean track records, and has earned o net profit of Rs.752.26 crores in its half yearly progress ending as on 30-09-2011, thus gaining 10% more than in 2010 for a similar period.

The new CMD, Ajay Kumar published the statistics with the approval of board of directors on Monday (October 31). The Bank’s business exceeded Rs.2.022 crores. Every share of the bank has earned Rs.102.0. Deposits have reached Rs.1.31 crores. The NPA percentage is only 0.91%.

The Bank had 1375 branches, 1256 ATM spots, and 2618 non-branch counter as on October 1, 2011.

The target for 2011-12 is set at Rs.1.46 crores in deposits and Rs.2.50 crores in business transaction.

Executive directors Narendra Singh and Ashwini Kumar were present at the meeting on Monday.

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