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CorporationBankWikipedia,thefreeencyclopedia

CorporationBank
FromWikipedia,thefreeencyclopedia

CorporationBankisapublicsectorbankingcompany
headquarteredinMangalore,India.ThebankhaspanIndia
presencewith8,000functionalunitscomprising2200branches,
1800+ATMsand3,000branchlessbankingunitsasof30
January2015.
Thetotalbusinessofthebankduringthefinancialyear201415
hasbeen3,44,412crore(equivalentto3.6trillionor
US$54billionin2016),asof31March2015.Thetotaldeposits
havegrownto1,99,346crore(equivalentto2.1trillionor
US$31billionin2016).Totalincomeofthebankreached
21,038.02crore(equivalentto220billionorUS$3.3billionin
2016)duringthisperiod.Operatingprofitofthebankreached
965.37crore(equivalentto10billionorUS$150millionin
2016)andnetprofit584.26crore(equivalentto617croreor
US$92millionin2016).

Corporationbank

Type

Public

Tradedas

BSE:532179(http://www.bseindi
a.com/stockshareprice/x/y/53217
9/)
NSE:CORPBANK(http://www.ns
eindia.com/live_market/dynaConte
nt/live_watch/get_quote/GetQuote.j
sp?symbol=CORPBANK)

Industry

Banking

Founded

Udupi,12March1906

Headquarters Mangalore,Karnataka,India

Contents
1 History
2 110yearsofbanking
3 Projects
4 Ratings
5 Awards
6 Recognition
7 Productsandservices
8 Seealso
9 References
10 Externallinks

History

Keypeople

JaiKumarGarg
(CEO,MD)

Products

Loans,CreditCards,Savings,
Investmentvehicles,etc.

Operating
income

14,510.40crore(equivalentto
190billionorUS$2.8billionin
2016)(Financialyear201112)

Netincome

1,506.04crore(equivalentto
20billionorUS$300millionin
2016)(March2012)

Owner

GovernmentofIndia

Slogan

ProsperityforAll

Website

www.corpbank.com(http://www.c
orpbank.com/)

CorporationBank,theoldestbankinginstitutionintheerstwhileundividedSouthCanaraDistrictoftheMadras
PresidencyandoneoftheoldestbanksinIndia,wasfoundedon12March1906intheTempleTownofUdupi,by
asmallgroupofphilanthropistsledbyKhanBahadurHajiAbdullaHajiKasimSahebBahadur.Theneedtostart
thisbankwasfeltbecausetherewasnosuchfacilityatUdupi,animportanttradingcentrenexttoMangalorein
SouthCanaradistrict.Theindigenousbankingwaslargelyinthehandsofafewrichprivateindividualsand
somethinghadtobedonetoproviderelieftothecommonmanfromtheclutchesofthemoneylenderswhoheld
fullsway.ThefirstbranchofamodernbankestablishedinthedistrictwastheBankofMadras,oneofthethree
PresidencyBanks,whichsetupitsofficeinMangalorein1868largelytocatertothebusinessneedsofafew
Britishfirmsdealinginexportofplantationproducts.ItsagentusedtovisitUdupionceafortnightorso,todo
banking.Moneyremittanceshadtobemadeonlythroughpostalmedium.

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ToovercomethesedrawbacksandalsotoprovidebankingfacilitiesforUdupi
inparticularandthedistrictingeneral,acosmopolitangroupof
philanthropistsledbyHajiAbdullaSahebmadeaboldventuretostartthis
institution.Whatinspiredthefoundingfatherswasthefervourof
"Swadeshism".Forpromotingthebank,theFounderPresidentmadeanappeal
saying,"TheprimaryobjectinformingtheCorporation'isnotonlyto
cultivatehabitsofthriftamongstallclassesofpeople,withoutdistinctionof
casteorcreed,butalsohabitsofcooperationamongstallclasses.Thisis
swadeshism',pureandsimpleandeveryloverofthecountryisexpectedto
comeforwardandcooperateinachievingtheendinview."Theyrightly
definedSwadeshismasinstitutionbuildingtoaideconomicactivitythrough
cooperationofall,shornofdistinctionofcasteandcreed.

SterlingRoadbranch,Chennai,
TamilNadu

TheCanaraBankingCorporation(Udupi)Limited,astheinstitutionwas
calledthen,startedfunctioningasaNidhiwithahumblebeginning.Theinitial
capitalwas5,000/andattheendofthefirstday,itsresourcesstoodat38
rupees13annasand2pies.

ThesettingupoftheCanaraBankingCorporationLtd.seemstohavegivena
filliptocooperativebankingandalsotoregularbankingelsewhereinthedistrict.Between1909and1917,sixco
operativebankscameintobeingandduringthedecadeimmediatelyaftertheFirstWorldWar(191418)South
Canaragavebirthtoasmanyaseightbanks.Itistothecreditofthisbankthatdespitetwoworldwars,economic
depressionandstiffcompetition,thebanknotonlyquitesurvived,butalsomadesatisfactoryprogress.
HavingbeenstartedatUdupi,thebankfirstbranchedoutbyopeningabranchatKundapurin1923.Thesecond
branchofthebankwasopenedinMangaloreatCarStreetin1926.ThebanksteppedintoKodagudistrictin1934
byopeningitsseventhbranchinMadikeri.In1937,thebankwasincludedinthesecondscheduleofReserveBank
ofIndiaAct,1934.In1939,thebank'snamechangedfrom"CanaraBankingCorporation(Udupi)Ltd."to"Canara
BankingCorporationLtd."TheBankgraduatedintoaregionalbankin1945whenthetotalnumberofitsbranches
stoodat28.In1961,ittookoverBankofCitizensofBelgaum.Inthesameyear,thebank'sadministrationoffice
shiftedfromUdupitoMangalore.
Thesecondchangeinthenameofthebankoccurredin1972,fromCanaraBankingCorporationLtd.to
CorporationBankLimited.Thebankwasnationalisedin1980alongwith5otherprivatesectorbanks.After
nationalisation,thepaceofgrowthofthebankacceleratedanditmadeallroundprogress.Startedasacommon
man'sbank,itchangedwiththetimestomeettheaspirationsofthepeoplebutneverswervedfromitsmotto
SarveJanahSukhinoBhavantumeaningProsperityforAll.Itendeavouredandsucceededinstrikingaright
balancebetweentraditionalvaluesandinnovativeapproach,personalisedserviceandprofessionaloutlookand
commercialconsiderationsandpublicconcern.Oneoftheuniqueachievementsofthebankisthatithasbeen
payingdividendcontinuouslyforthelast98yearssinceitsinception.Today,withthemostmoderntechnology
drivenproductsandservicesandnationwidebranches&ATMs,CorporationBankstandstallamongthepublic
sectorbanksinIndiaandishailedasoneamongthewellmanagedpublicsectorbankswithexcellenttrackrecord
inallthekeyparametersofbanking.ThebankhasthesecondlargestATMnetworkinthepublicsector.
CorporationBankhadthehonourofplayinghosttomanyadistinguishedpersonality.Duringthebank'sPlatinum
Jubileecelebrationsin1976,thenewadministrativeofficebuildingatPandeshwarMangalorewasopenedbySri
B.D.Jatti,thethenVicePresidentofIndia.ThebronzestatueofPanditJawaharlalNehruinstalledbythebankat
theTrafficIslandinfrontofitsCorporateOfficeatPandeshwarMangalore,wasunveiledbyMr.JusticeE.S.
Venkataramaiah,thethenChiefJusticeofIndia.In1992,R.Venkataraman,thethenPresidentofIndia,visitedthe
banktoinaugurateits85thanniversarycelebrationsand60thanniversaryofthebank'scommencementof
operationinTamilNadustate.In1996,Mr.JusticeA.M.Ahmadi,thethenChiefJusticeofIndia,visitedthebank
todeliverthe90thyearcommemorativelecture.CorporationBankHouse,thenewpremisesofthebank'sCar
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StreetMangalorebranch,wasinauguratedbyDr.ManmohanSingh,whowasthentheUnionFinanceMinister.Dr.
C.Rangarajan,thethenGovernorofReserveBankofIndia,launchedtheprestigiousdepositproductCorpClassic
duringhisvisittothebank'scorporateofficein1997.Thebank'snewMillenniumBuildingwasinauguratedby
UnionMinisterofStateforFinanceVikhePatilin2000.Inthesameyear,UnionFinanceMinisterYashwantSinha
launchedthebank'sCorpFastproductattheCorporateOffice.
CorporationBankwasthefirstpublicsectorbank,otherthanStateBankofIndiaascociates,toachieve100%CBS
(CoreBankingSolutions)developedandimplementedbyLaserSoftInfosystemsLimited,Chennai.[1]

110yearsofbanking
CorporationBankcompletedhundredandtenyearsofexistenceon12March2015.Ontheoccasionof107th
FoundationDaycelebrationsheldatTMAPaiHallinMangalore,fiveeminentpersonalitieswhomadeimmense
contributionstothesocietywerehonouredbythebank.Theyinclude,Dr.B.M.Hegde,eminentphysician,Dr.B.
RamanaRao,eminentcardiologist,Mrs.ElaBhatt,socialentrepreneurandfounderofSEWA,Dr.B.R.Shetty,
entrepreneurandDr.KadriGopalnath,eminentsaxophonist.
AnewapplicationforinternetbankinginiPadwaslaunchedonthisoccasion.Anewcallertuneforthebankfor
Bank'smobile/landlinephoneswasalsoinauguratedinthefunction.
TheCentenarycelebrationswerelaunchedbyShriV.Leeladhar,DeputyGovernor,ReserveBankofIndiawiththe
Bank'sFoundationDaylectureon12March2005.
AsapartoftheBank'scentenarycelebrations,anumberofprogrammesandprojectswereplannedandexecuted.
Asafirststep,theBankhaslaunchedtheCorpKissanCarddebitcardtiedupwithVISAinternational,toenable
thefarmersmaketimelypurchasesforagriculturaloperations.atYeshwantpurMalurinKolarDistricton13March
2005.AmodernpubliclibrarywasdedicatedtothecitizensofMangaloreinDKDistrict,thebirthplaceofthe
BankbyShriP.Chidambaram,HonourableUnionFinanceMinisteron2March2006.Thelibrarybuildingalso
housesaNumismaticMuseumandamultipurposehallforintellectualactivities.TheBankhasalsosetuplibraries
in25villagesandgivenawayscholarshipto100meritoriousstudentsofsuchvillagesforthepursuitoftheir
highereducation.Suchlibrarieswillbesetupin75morevillagesinaphasedmanner.CorporationBankA
CorporateJourney,thehistoryoftheBankandHajiAbdullahSahebabiographyoftheBank'sFounderPresident
havebeenpublishedontheoccasionofthevaledictoryfunctionoftheBank'sCentenaryCelebrations.[1]

Projects
TocatertotheSME&Agriculturalsegments,thebankmaintainsexclusiveSMEloancentresinsixteen
citiesacrossIndia.
ThebankmaintainsonlinebankingforitsretailandcorporatecustomersthroughasystemcalledCorpNet.
ThebankalsoallowspersonalInternetbankingthroughthisapplication.
ThebankrunsProjectSankalp,abusinessprocessreengineeringandorganizationalmanagementproject
ThebankhasawingnamedCorpKiran,anassociationofwivesofseniorexecutivesofCorporationBank
forunderstakingactivitiesrelatedtocorporatesocialresponsibility(CSR).

Ratings
CRISILhasreaffirmedthefollowingprogrammesofCorporationBank:
2billionBondissueAA
CertificateofDepositsProgrammeP1+
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FixedDepositProgrammeFAAA[2]

Awards
CorporationBankreceivedthewinnerawardjointlywithIndianBankforChequeTruncationSystem
underthemidsizedcategory.ThebankalsoreceivedtworunnerupawardsforNationalFinancialSwitch
foritsperformanceinacquirertransactionsandImmediatePaymentService(IMPS).
CorporationBankisrankedFirstunder"NationalAwardsforExcellenceinMSELending"andSecond
under"NationalAwardsforExcellenceinLendingtoMicroEnterprises"fortheyear201213underPublic
SectorBanksfromMinistryofMicro,SmallandMediumEnterprises.
CorporationBankhaswontheIBABankingTechnologyAward201213for"BestUseofMobility
TechnologyinBanking".ShriSRBansal,Chairman&ManagingDirectoroftheBankreceivedtheawardat
thefunctionheldatMumbaion27January2014.
ForitsimpressivelendingtoSMEsector,theBankhasbeenawardedan"SKOCHACHIEVERSAWARD"
bySKOCH,Delhi,on22.3.2014.
NationalAwardforAssistancetoExportersfromthePresidentofIndia(197677)
Gem&JewelleryExportPromotionCouncilAwardsuccessivelyfor5yearsfrom1981to1985
ShiromaniAward1992forBankingfromUnionMinisterforCommerce
BestBankAwardforExcellenceinBankingTechnologyfromInstituteforDevelopment&Researchin
BankingTechnology(IDRBT),Hyderabad(2001)
BestBankAwardforInnovativeUsageandApplicationonINFINET(IndianFinancialNetwork)from
InstituteforDevelopmentandResearchinBankingTechnology(IDRBT),Hyderabad(2002)
BestBankAwardforDeliveryChannelsfromInstituteforDevelopmentandResearchinBanking
Technology(IDRBT),Hyderabad(2003)
RunnerupAwardsinthe"BestOnlineandMultichannelBankingTeam"and"Outstandingachieverofthe
yearcorporate"categoriesinrecognitionofoutstandingachievementinBankingTechnologyfor2004,
institutedundertheaegisofIndianBanksAssociationandTradeFairs&ConferencesInternational.[3]
BestPSUBankoftheyearbyBloomberg
UTVFinancialLeadershipAward2011
BestNationalisedBankbyFinancialExpress(Source:SelfAdvertisementinHindustanTimes,Delhi,Front
Page,2April2011)

Recognition
OneoftheBest200companiesworldoveroutsidetheUnitedStateshavingaturnoverunderabillionUS$
ForbesGlobal,HongKong,issuedated27October2004
IndiasBestPublicSectorBankBusinessTodayKPMGSurveydated7December2003
IndiasStrongestandAsiasSecondStrongestTheAsianBanker,Singaporedated15December2003
IndiasBestPublicSectorBankOutlookMoney,15March2004
OneamongtheBest200/100companiesinAsia/PacificandEuropehavingturnoverunderabillionUS$
ForbesGlobal,HongKongdated1November2004
OneamongIndiasBestPublicSectorBanksBusinessToday,26February2006[4]

Productsandservices
Anywherebanking
CorpConvenienceInternationalDebitCard
CorpInternationalCreditcard
ASBAfacilityforIPO
InterBankPaymentService(IMPS)
CorpMoneyPurseVISAGiftCard
https://en.wikipedia.org/wiki/Corporation_Bank

CampusCashcard
CorpTravelCard
FundsTransferusingATMs
Onlinefundstransferusinginternet
SMSBanking
MobileBanking
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InternetBanking
Mcommerce
Multicitycheques
OnlineTaxPayment
PaymentofIncomeTaxthroughCorporation
BankATMs
PayRollAccount
MillionnaireRDaccount
CorpRecur
ThreeinOneaccount
GoldCoins
CorpHomeHousingLoan
CorpVehicleLoanforvehicles
CorpVidyaEducationLoan
CorpSiteLoan
CorpPersonalLoan
CorpConsumerLoan
CorpDoctorPlus

CorpMortgageFundsagainst
residential/commercialproperty
CorpVyaparShorttermcreditfortraders
CorprentalFinanceagainstfuturerent
receivable
CorpShelterReversemortgageloanforsenior
citizens
CorpMitraPersonalloanstoemployeesofother
companiesholdingsalaryaccountswith
corporationbank
CorpInvestorShoppeHealthcheckupof
financialportfolio
NRIServices
CashManagementServicesforcorporates
FastCollectionService
CorpNewGenSBaccount

Seealso
Indianbanking
ListofbanksinIndia

References
1."TheJourney".2003.Archivedfromtheoriginalon28September2011.Retrieved17July2015.
2."Ratings".Retrieved20060814.
3."AwardsWon".Retrieved20060814.
4."MajorRecognitions".Retrieved20060814.

Externallinks
CorporationBankwebsite(http://www.corpbank.com)
Retrievedfrom"https://en.wikipedia.org/w/index.php?title=Corporation_Bank&oldid=733820756"
Categories: BanksofIndia EconomyofKarnataka GovernmentownedbanksofIndia
Companiesestablishedin1906 Banksestablishedin1906
CompaniesnationalisedbytheGovernmentofIndia GovernmentownedcompaniesofIndia
1906establishmentsinIndia
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Byusingthissite,youagreetotheTermsofUseandPrivacyPolicy.Wikipediaisaregisteredtrademark
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