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Corporation Bank (Amalgamated)
CORPBANK · Financials > Bank - Public · MD: PV Bharathi · Listing date: Dec. 6, 1997

Corporation Bank incorporated in the year 1906 with a seed capital of Rs.5000. The Bank has Representative Offices at Dubai and at Hong Kong. Presently, the Bank has a network of 1361 fully automated CBS branches, 1250 ATMs and 2500 Branchless Banking Units across the country.

The Bank has many ‘firsts’ to its credit - Cash Management Services, Gold Banking, m-Commerce,  Online approvals for Educational loans, 100% CBS Compliance.On August 2010, Corporation Bank has inked a memorandum of understanding (MoU) with Unique Identification Authority of India (UIDAI), following which it will act as registrar for unique identification project 'Aadhar'.

Corporation Bank in September 2010 has signed a memorandum of understanding (MoU) with United India Insurance (UII), public sector non-life insurance major for distributing micro insurance and other rural insurance products through its business correspondents.

The Bank has one Subsidiary viz. CorpBank Securities formed as a Primary Dealer to deal in Government Securities. The Subsidiary has recorded impressive performance over the years. The Bank also has a Regional Rural Bank namely CHIKO Bank covering Kodagu and Chikmagalur districts in Karnataka.

Services offered

Personal Banking- Under this, it offers various products and services such saving account, loans, deposits, ATM facility, RTGS/NEFT facility, internet banking, demat services, etc.

NRI Banking- Besides various personal banking products, it also offers remittance services, consultancy services to its NRI Clients.

Corporates- To corporates, it offers various products and services such as corporate accounts, term finance, working capital loans, RTGS, NEFT, CMS,

Priority and SME- It also caters products and services to Priority and SME segment such as providing various kinds of products to meet their various business requirements.

Milestone

Corporation Bank was nationalised in the year 1980.

In 1997, it was the second public sector bank in the India to enter capital market; It IPO was over subscribed by 13 times.

Corporation Bank’s Lower Tier II bonds aggregating to Rs 500 crore were assigned 'CARE AAA' rating and its Upper Tier II/Perpetual Bonds issue of Rs 1,000 crore was also assigned 'CARE AAA' rating by Credit Analysis and Research.

Award

  • Banking Technology Awards 2009 for its efforts in implementing innovative technologies in its business initiatives under the auspices of the Indian Banks Association [IBA], Finacle and the Trade Fairs & Conference International [TFCI].
  • Best PSU Bank of the Year by Bloomberg UTV ‘Financial Leadership Awards 2011’
  • Ranked No.1 in India’s Most Customer Friendly Bank, a first ever Survey jointly conducted by Outlook Money and TNS.
  • Corporation Bank received the First Prize Under ‘National Award for Excellence in Lending to Micro Enterprises’ for the year 2010-11 from Ministry of Micro, Small and Medium Enterprises, Govt. of India.
  • Corporation Bank has bagged the Best Manpower Efficiency Award in Public Sector Bank Category, instituted by Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks’ Association (IBA) at FIBAC Banking Awards 2011.
  • Financial Express - Ernst Young India's Best Banks Survey 2010-11 ranks Corporation Bank as Second Best Public Sector Bank
  • SKOCH Financial Inclusion Award 2012 for SHG Initiatives instituted by SKOCH Consultancy Services Pvt. Ltd.
  • Ranked “Number One Nationalised Bank 2010-11” at “FE – India’s Best Banks Awards”. The Best Banks Survey was conducted by Financial Express in association with Ernst & Young – the Knowledge partner for the survey.
  • ‘Best Mid-Size Public Sector Bank’ Award in the CNBC-TV18 Best Bank and Financial Institution Awards presented by MCX for FY11
  • First Prize under ''National Award for Excellence in Lending to Micro Enterprises'' for 2010-11 from Ministry of Micro, Small & Medium Enterprises, Govt. of India
  • “Best Manpower Efficiency Award” by FICCI-IBA at FIBAC Banking Awards 2011
  • Ranked No.1 in India’s Most Customer Friendly Bank, a first ever Survey jointly conducted by Outlook Money and TNS• “Best PSU Bank of the Year” by Bloomberg UTV ‘Financial Leadership Awards 2011’
  • “Best Financial Inclusion Initiative”, “Best Use of Technology in Training & eLearning Initiatives” Winner Awards & Runner Up Award - under the category “Best Online Bank” amongst PSBs in the Banking Technology Awards-2010.
  • SKOCH Financial Inclusion Award 2011 - for Financial Inclusion initiatives• Dalal Street Investment Journal [DSIJ] Public Sector Undertakings Awards 2010 - on the basis of study conducted by KPMG
  • The Bank is ranked Number One under “National Awards for Excellence in MSE Lending” and Second under “National Awards for Excellence in Lending to Mirco Enterprises” for the year 2012-13 under Public Sector Banks from Ministry of Micro, Small and Medium Enterprises.
  • “Number Two Public Sector Bank” at “FE – India’s Best Banks Awards”. The Best Banks Survey was conducted by Financial Express in association with Ernst & Young – the Knowledge partner for the survey.
  • Best Mid Size Public Sector Bank (Commendation) Award at “India Best Banks and Financial Institutions Awards 2012” by CNBC-TV18 & MCX SX
  • “Safest Banker” Award by 'The Sunday Standard FINWIZ 2012 - Best Bankers’ Award
  • ‘SKOCH Financial Inclusion Award 2013’ for SHG Initiatives.

  • “Caring Company Award” at World CSR Congress 2013 held at Mumbai on 18th February 2013.

  • 2013- ‘SKOCH Financial Inclusion Award 2013’ for SHG Initiatives.                                                                                 
  • ‘Caring Company Award’ at World CSR Congress 2013 held at Mumbai on 18th February 2013
  •  The Bank bagged the “Best MSME Bank Award 2016” instituted by The Associated Chambers of Commerce & Industry of India (ASSOCHAM).
    The Bank has bagged ''Excellence Award on Empowering MSMEs 2016''.
  • The Bank has bagged ''SKOCH Achiever Award - 2016'' for National SME enablement.
  • The Bank bagged ten awards from NABARD for ‘Best Performance under Self Help Group (SHG)/Joint Liability Group (JLG) Bank Linkage Programme’ in Karnataka state for the F.Y. 2013-14 & 2014-15.
  • The Bank has bagged “MSME Banking Excellence Awards – 2015” instituted by Chamber of Indian Micro Small & Medium Enterprises [CIMSME]. The Bank has won under the categories Best MSME Bank Award for Mid-Sized Bank - Winner, CSR & Business Responsibility Award for Mid-Sized Bank- Runner Up and Best Bank Award under MUDRA Yojna for Mid-Sized Bank- Runner Up.
  • The Bank has bagged Best Social Bank Award-Winner, Best Rural Bank Award-Winner and Best Bank for participation in Govt. Schemes Award-Winner under mid-sized category.
  • The Bank has bagged National Payments Excellence Awards 2015 insituted by National Payments Corporation of India (NPCI). The Bank received the winner award jointly with Indian Bank for Cheque Truncation System under the mid-sized category. The Bank also received two runner up awards for National Financial switch (NFS) for excellent performance in acquirer transactions and Immediate Payment Service (IMPS).
  • 'SKOCH Achiever Award-2015' for National SME enablement.
  • The Bank has bagged “MSME Banking Excellence Awards – 2014” instituted by Chamber of Indian Micro Small & Medium Enterprises. The Bank has won two awards under the categories ‘Best MSME Bank Award for Other Bank (Winner)’ and ‘Best Bank Award (Runner Up)’.
  • The Bank has bagged Skoch Achiever Award for outstanding performance in   SME Enablement during 2014 instituted by SKOCH Consultancy Services Pvt. Ltd
    “Indira Gandhi Rajbhasha Puraskar 2014“ for outstanding work in implementation of official Language . 
  • The Bank was conferred with two awards, First Prize under Town Official Language implementation committee category & Second Prize under Public Sector Banks’ category for ‘C’ region.