Investment
in India - Banking System
Banking System - Top Banks In India
Corporation
Bank In India
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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:
- Schemes without repatriation
facility
- NRO deposits
- Schemes with repatriation facility
- NRE deposits
- FCNR(B) deposits
- 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.
Corporation Bank Website
www.corpbank.com
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