Corporation Bank Of India

Since 1906, Corporation Bank in India is dedicated to give vast, varied and versatile services to the nation with a comfort and zeal stealing the common say in the Banking Sector, "The Bank of Pride". Close to hit the mark '100 years at your service', Corporation Bank India has regularly tried to keep a personal touch with customers.

Corporation Bank India is one of the well-run Public Sector Bank in India. The key factor of the success of Corporation Bank India is its young and dynamic manpower which gives service with efficiency and dedication. Even in this era of technology and stiff competition, Corp Bank is rapidly growing confidence among its clients.

Corp Bank came out with its Initial Public Offer (IPO) in October 1997. 37.87% of share Capital is presently held by the Public and Financial Institutions. 57.17% of Share Capital is held by the Government of India. On 31.12.2003, the Net Worth of Corporation Bank was Rs.2,755 crore.

US GAAP

Among the Public Sector Bank, Corporation Bank of India is the first to publish the results under US GAAP. It has been doing it since 1998-99. With this method, the consolidated net profit is registered to be Rs. 415.99 for the year 2002-03.

Human Resource of Corporation Bank in India

10,176 fulltime dedicated employees (as on 31.03.04) is encouraging the Corporation Bank to perform to the best possible and comfortable service provider to customers.

Particulars	2000-01	2001-02	2002-03	2003-04
Manpower in the Bank	10,295	10,238	10,164	10,176

Productivity of Corporation Bank in India

		1999 - 2000	2000- 2001	31.03.2002	31.12.2003
Productivity in terms of business per employee	Bank	220.39	245.99	291.63	319.4
	Industry	117.93	154	187	187
Net Profit Per Employee		2.32	2.55	3	5.06

Technology

100 per cent of the Bank Corp business is computerised along with all the branches. Bank Corp has over 600 ATMs spreading over 21 States and 2 Union Territories. Bank Corp has a tie-up arrangements of sharing ATM network with, ING Vysya Bank Ltd., Andhra Bank and IndusInd Bank Ltd.

In January 2004, the Bank Corp became the member of "Cashnet", shared ATM network managed by Euronet. This arrangement extended the facilities of cardholders to use over 2,500 ATMs.

Abreast of it, Corp Bank also giving services through internet. One can operate his/her account online.

Corporation Bank NRI Section

It maintains foreign currency accounts (Nostro) with reputed international banks in 15 major currencies. These are as follows:

Sl No	Name and address of the Bank	Currency	Account Number
1	CITI BANK 111 Wall Street, 16th floor Zone 1, NY 10043 NEW YORK, USA - Routing No.021000089	US $	36006674
2	J P MORGAN CHASE BANK N.A Church Street Station, P.O. BOX NO. 932, NEW YORK city, NY-10008-0932 USA	US $	001-1-400603
3	HSBC Bank PLC(UK) International Division P.B.No.181,110-114, Cannon Street London EC4N6AA UK	GBP	00-263000
4	STANDARD CHARTERED BANK PLC 1, Aldermerbury Square LONDON-EC 2U 7SB - UK	GBP	1708176696
5	SOCIETE GENERALE BP-31709 75454, Paris cedex-09 France	EUR	002-016-204000
6	Commerze Bank AG 60261 Frankfurt Ammain Frankfurt, Germany	Euro	400-875085300

It facilitates the following deposit schemes for NRIs:

1. Schemes without repatriation facility
   1. NRO deposits
2. Schemes with repatriation facility
   1. NRE deposits
   2. FCNR(B) deposits
   3. RFC deposits(on return)

Type of deposits in [a] and [b]

• Current accounts [not in FCNR (B)]
• Savings Bank accounts [not in FCNR (B)]
• Fixed Deposits
• Cash Certificates
• Money-Flex deposits
• Recurring deposits [not in FCNR (B)]

Awards and Rewards of Corporation Bank India

• Best Bank Award for Excellence in Banking Technology in the financial year 2001-2002.
  
  
• Best Award for Innovative use of Banking applications on INFINET in the financial year 2002-03.
  
  
• Best Bank Award - Delivery Channels from the Institute for Development and Research in Banking Technology (IDRBT) during the year 2003-2004.
  
  
• 'The Asian Banker', Singapore, rated as the Second Strongest Bank in Asia and the Strongest in India.
  
  
• The 'Forbes Global', Hongkong, included it in the list of the Best 200 Companies worldover outside the US having turnover under a billion US $.
  
  
• Business Today - KPMG survey' rated as the Best Public Sector Bank.
  
  
• Bagged the Best Public Sector Bank Award instituted by the personal finance magazine - Outlook Money.
  

Centenary Year Mission

To achieve a total business of Rs. 70,000 crore comprising Rs. 45,000 Crore Deposits and Rs.25,000 Crore Advances.

Milestone

• Founded in 1906 at the temple town of Udupi (Karnataka).
  
  
• Corp Bank became the third bank in the country in 1952 to receive a licence from the RBI as Scheduled Bank.
  
  
• The Bank of Citizens was merged with it in the year 1961.
  
  
• It was nationalised in April 1980.