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Corporation Bank

Corporation Bank
Company nameCorporation Bank
Company typePublic
SloganA Premier Government of India Enterprise
IndustryBanking
FoundedUdipi, 1906
HeadquartersMangalore, India
Key peopleRamnath Pradeep
(Chairman, MD)
ProductsLoans, Credit Cards, Savings, Investment vehicles, etc.
Revenue(+) Rs 862.83 crore (2006)
Net income(+)Rs 100.27 Crore (2006)

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Corporation Bank (BSE - 532179, NSE - CORPBANK) is an India-based banking company based in Mangalore, India. The bank was founded with an initial capital of Rs. 5000 (USD 100), and first day’s canvassed resources of less than one USD 1, has currently (31 March 2004) 12,724 full time employees, and operates from several branches in India.

The Bank is a Public Sector Unit with 57.17% of Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) in October 1997 and 37.87% of Share Capital is presently held by the Public and Financial Institutions. The Bank’s Net Worth stood at Rs.3,054.92 crores as on 31 March 2005.

The bank has the distinction of the first Indian bank to publish its financial results (1998-99) conforming to US GAAP.


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