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Corporation Bank Company History and Annual Growth Details


- The Company was Incorporated at Udipi. The Bank transacts banking
business of every description. The undertaking of the Corporation Bank
Ltd., was taken over by Government by an Ordinance promulgated on 15th
April, 1980 viz., Banking Companies (Acquisition and Transfer of
Undertakings) Ordinary, 1980 and vested in a new bank under the name
'Corporation Bank'.

- The Bank sponsored a RRB under the name 'The Chikmagalur-Kodagu
Grameen Bank'.


- Rs 10 lakhs contributed by Govt.


- Rs 440 lakhs contributed by Govt.


- Rs 200 lakhs contributed by Govt.


- Rs 400 lakhs contributed by Govt.


- Rs 500 lakhs contributed by Govt.


- Rs 2000 lakhs contributed by Govt.


- Rs 3000 lakhs contributed by Govt.


- Rs 4500 lakhs contributed by Govt.


- Total Branch Automation package was launched in 46 branches taking
the total number of branches under TBA project to 151.

- Rs 30,00,00,000 returned during the year.


- As at 31st March, the banks per capital investment under the IRDP was
Rs 9000.

- The Bank established the Corporation Bank Self Employment Training
(COBSET) Institute at Chikmagalur in co-ordination with Government of
Karnataka. It conducted Radio & TV repairs, motor rewinding screen
printing, mushroom cultivation etc.

- The Banks is one of the Co-promoters of a Primary Dealer in Govt.
Securities, which has been promoted by Canara Bank viz. Gilt
Securities Trading Corporation of India Ltd.

- 84 branches were provided with Satellite based Communication NetWork
System (E-Mail taking the total number of branches) with E-Mail
connectivity to 219.

- Corporation Bank has cut its prime lending rate to 13.5 per cent from
14 per cent and will be entering the capital market on September 24
with a public issue of equity shares at the rate of Rs 80 per share
which the bank board has considered reasonable at a price to earning
ratio of 5.2 and price to book value of just 1.6.

- According to Hugar, Corporation Bank is the only bank in the country
to set up specialised collection and payment service branches. The
first branch has been set up in Bangalore.

- Corporation Bank is working on a joint venture with National Housing
Bank (NHB) to form a housing finance company. The public sector bank
last month submitted the proposal to Reserve Bank of India (RBI).

- The Reserve Bank of India has in principle approved Mangalore-based
Corporation Bank's proposal for setting up a wholly owned housing
finance subsidiary.


- Corporation Bank has obtained registration for its first wholly owned
subsidiary - Corp-bank homes Ltd - from the National Housing Bank.

- Corporation Bank is setting up a housing finance subsidiary, CorpBank
Homes Ltd, which will be inagurated on 22nd May in Mangalore.

- As part of the golden jubilee celebration of India's Independence,
Corporation Bank has created two endowments for promotion of education
in Dakshina Kannada district.

- Corporation Bank has entered into a strategic alliance with the Stock
Holding Corporation of India Ltd., (SHCIL).

- Corporation Bank is the first public sector bank to launch the
bullion scheme for jewellery exporters following the necessary
amendments made by the Maharashtra State Government in the Mumbai Sales
Tax Act of 1959.


- Close on the heels of having set up a housing finance subsidiary,
Corporation Bank has drawn up plants to become a primary dealer in the
money markets and has initiated talks with foreign majors for getting
into the insurance field as soon as the sector opens up.

- Corporation Bank is confident of its subsidiary doing well in the
primary dealership firm as the bank has one of the most active treasury
departments among public sector banks.


- The Industrial Finance Branch of the Bank in New Delhi has received
the ISO 90002 certificate issued by Det Norske Veritas, Netherlands.

- The Bank has entered into a 'Strategic Business Alliance' with
Netsavvy Solutions Pvt. Ltd., a Chennai-based company, to provide
Internet banking facilities to its customers.

- The Bank has launched its tele-banking facilities called 'Corp Dial'
at its home city-Managalore and Udupi in Karnataka.

- The Bank has become the first public sector bank in the country to
adopt US GAAP accounting standards.

- Chennai-based Laser Soft Infosystems Ltd, exclusively focussed on
developing software suited to the banking industry, has signed a major
contract recently with the Corporation Bank to bring about total branch
automation through a unique concept called 'cluster banking'.

- Public Sector Corporation Bank will enter a three way tie-up to foray
into the life insurance sector ad has created a separate divsion within
the bank to speed up the entry procedure.

- Corporation bank chose Chennai for launching its 'Any branch banking'
product covering the 12 computerised branches in the city.

- Corporation Bank has launched 'Corp Access' - the bank's any branch
banking product at Chennai.

- SalahkarIndia.com has tied up with Corporation Bank to display its
products on the investment site of SalakharIndia.

- S K Cherian Varghese has been appointed by hte Reserve Bank of India
as the chairman and managing director of Corporation Bank for five

- The Bank has launched a payment processing centre for its corporate

- Corporation Bank has launched its Internet-based cash management
service for its corporate customers.


- The State-run Corporation Bank is proposing to introduce demat
services on its own to its customers early in the month of March.

- Mr. P.K. Gupta has been appointed as the Wholetime Director
designated as Executive Director effective from February 23, in place
of Mr. N.S. Gujral.

-Corporation Bank's house magazine Kshema has won 'The best editorial
content award 2000' in the all-India house journal competition,
organised by Mayarm Surjan Foundation, Rajpur.


- Corporation Bank has informed that in exercise of the powers
conferred by the provisions of Banking Companies. The Central
Government has appointed Shri Ramesh Chander Chandiwala, as
Non-Executive Director of the Bank for a period of three years with
effect from November 05, 2001.

- Central Govt. nominates Pradeep Kumar as Non-Executive Director of Corporation Bank.

-Corporation Bank has informed that the following Directors on the Board of the Bank have retired on July 04, 2002, on completion of their term of office. 1. V K Chanana, 2. B Ganapath Pai
3. K K G Pillai, 4. Dushyant Tyagi.

-Corporation Bank has informed that at the 5th Annual General Meeting of the Shareholders held on July 24, 2002 the following shareholders were declared elected as Directors on the Board of the Bank, representing the shareholders.

1. Shri S Ravi
2. Shri A Ramamurthy
3. Shri Dushyant Tyagi
4. Shri S B Mathur
5. Shri K K G Pillai
6. Shri V K Chanana

The above Directors are deemed to have assumed office with effect from July 25, 2002. The term of office of the above Directors will be three years upto July 24, 2005.

- Shri K Venugopal, Director on the Board of the Bank has resigned as Director with effect from September 12, 2002.


- Corporation Bank has obtained the right to host ATMs at 14 stations of the Western Railway. Western Railway had invited bids for 51 stations starting from Churchgate (Mumbai) to Vapi (Gujarat)s

- National Bank for Agriculture and Rural Development (Nabard) and Corporation Bank have signed a MoU for the co-financing of hi-tech agricultural, agro-processing and export-oriented projects. Joint financing by these banks would help accelerate capital formation in rural areas

- Corporation Bank has informed that Shri A Ramamurthy, Director on the Board of the Bank expired on February 23, 2003.

- Corporation Bank on March 25, inaugurated 33 new outlets within premises of the Life Insurance Corporation. These service outlets, which includes extension counters and automated teller machines are spread across the states of Punjab, Delhi, Rajasthan, Jharkhand, Orissa, Maharashtra, Goa, Karnataka and Tamil Nadu

- Corporation Bank has informed that the Central Government has nominated Shri D N Prakash as Officer Employee Director on the Board of the Bank for a period of three years from March 26, 2003 and thereafter until his successor has been nominated or untill he ceases to be an officer of the Bank, whichever is earlier.

- The Chairman and Managing Director (CMD) of Corporation Bank, Mr K. Cherian Varghese, received two 'regional awards' for the years 2000-2001 and 2001-2002 on behalf of the Town Official Language Implementation Committee (TOLIC) of Mangalore for the contribution made towards the implementation of the official language policy of the Government.

-Corporation Bank has informed the Exchange that Shri Ramakant Vashishtha, shareholder of the Bank is deemed elected on June 30, 2003 as Director on the Board of Bank, representing the shareholders of the Bank.

-Corporation Bank has informed that Shri Ramakant Vashishtha, shareholder of the Bank is deemed elected on June 30, 2003 as Director of Board of the Bank, representing shareholders of the Bank.

- Corporation Bank has entered into an alliance with ECGC (Export Credit Guarantee Corporation) for a corporate agency tie-up.

-Donates Rs 1 crore to Prime Minister's National Relief Fund

-Signed MoU to collaborate with Eicher for financing tractors to farmers.

-Corporation Bank bags Forbes Award


- Corporation Bank has signed an agreement with DSP Merrill Lynch Mutual Fund

-Corporation Bank inks pact with Toyota Motors

-Corpn Bank signs Memorandum of agreement with Honda Siel Power Products Ltd. to provide easy loans for purchasing Honda power generators

-Government of India nominates Smt. Uma Shankar, General Manager, Reserve Bank of India, Bangalore, as a Director on the Board of the Bank w.e.f. January 9, 2004 until further orders, vice Shri G.K. Sharma.

-Andhra Bank inks pact with Corpn Bank to share ATMs

-Corpn Bank opens 5 more branches in Bangalore

-Corpn Bank, Texmo in tango for agri-pumpsets

-Corpn Bank gets Best Public Sector Bank award

-Ties up with Tractors and Farm Equipment Ltd for financing tractors to farmers

-Government of India has appointed Shri Ch. Hanumantha Rao as a Workman Employee Director on the Board of the Bank

-Corporation Bank, Tanishq and World Gold Council (WGC) have entered into a tie-up to offer finance scheme to their customers for the purchase of gold jewellery

-Ties up with Bajaj Auto Ltd to finance two wheelers

-Corporation Bank has signed a memorandum of understanding with SAME Deutz-Fahr India (P) Ltd for financing its tractors to farmers.

-Corporation Bank and ICFAI University have signed a memorandum of understanding (MoU) to publish research papers submitted and discussed at the Bank Economists' Conference (BECON) 2002, as books

-Inks MoU with Greaves Cotton Ltd. for financing farm machines to farmers

-Corporation Bank has entered into an agreement with the Indian Railway Catering and Tourism Corporation (IRCTC) for online booking of railway tickets

- Corporation Bank wins prestigious 'Best Bank Award for Delivery Channels' from the Institute for Development and Research in Banking Technology (IDRBT), sponsored by RBI.

- Corporation Bank jointly with New India Assurance launches a mediclaim scheme with a cashless facility for the bank's ATM and debit cardholders, called 'Corp Mediclaim'


-Corpn Bank rolls out Kisan Card for farmers

-Corporation Bank inks agreement with IL&FS Investsmart for offering capital market services to the bank's customers

-Corporation Bank opens CAPS branch

-Corpn Bank gets 'Outstanding Achiever of the Year' award

-Corp Bank to introduce hi-tech products


-Corporation Bank unveils 3 schemes for SMEs

-Corporation Bank has informed that Shri Ramakant Vashishtha, Shareholders Director on the Board of the Bank has resigned as Director with effect from October 23, 2006.

-Corporation Bank to acquire Oman exchange company

-Corporation Bank sets up hi-tech library


-Corporation Bank has informed that Shri. D N Prakash, Officer Employee Director on the Board of the Bank is ceased to be member of the Board of the Bank effective from March 08, 2007.

- Corporation Bank has joined hands with Mumbai's dabbawallas to source clients for offering banking services.

-Corporation Bank has entered into Memorandum of Understanding (MOU) with CRISIL Ltd for Rating of Small & Medium Enterprises (SMEs), Small Scale Industries (SSIs) and Facility Rating of corporates as required under BASEL II.

-Corporation Bank has has signed a Memorandum of Understanding with Credit Analysis & Research Ltd (CARE) on December 20, 2007 for assigning credit rating to SME units and also Bank loan Rating to existing / prospective customers of the Bank.


- Corporation Bank has appointed Shri. Asit Pal,Genera] Manager, Bank of Baroda as a Whole Time Director (designated as Executive Director) of the Bank up to November 30, 2010.

- Corporation Bank has declared national excellence awards for 21 entrepreneurs comprising of micro, small and medium entrepreneurs and an emerging corporate

-Corporation Bank rolls out reverse mortgage scheme


- Corporation Bank has signed MoU with Mahindra & Mahindra (M&M) Ltd and its joint venture company, Mahindra Navistar Automotives Ltd (MNAL), for vehicle finance.

-Corporation Bank has inked a pact with TVS Motor Company for financing 'TVS King' (passenger auto-rickshaw). Under the agreement, customers will have to pay 15 per cent of the on-road price to avail themselves of the loan with low interest rate options.


- Corporation Bank has appointed Shri Narendra Singh, General Manager, Allahabad Bank as a whole time director (designated as Executive Director) Of the bank.

- Corporation Bank has received SKOCH Challenger Award 2010 for 'Inclusion Champion of the Year', instituted by SKOCH Consultancy Services Pvt Ltd.

- Corporation Bank has informed BSE that in exercise of the powers conferred by clause (c) of sub-section (3) of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980 read with sub-clause (1) of clause 3 of the Nationalised Banks (Management and Miscellaneous Provisions) Scheme 1970/1980, the Central Government has nominated Smt. Grace Koshie, as the Director on the Board of the Bank with effect from 30lh July 2010 until further orders, vice Shri M. A. Srinivasan.
Oct 26, 12:00 am
Oct 26, 4:14 pm
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