The Corporation Bank was established in the year 1906 and is considered as one of the well-run banks in the comity of Public Sector Banks in the country. The Bank has a unique history of 100 years of successful Banking and has stood the test of time by growing steadily, offering vast, varied and versatile services with a personal touch. Today, its good customer service, pre-eminent track record in House Keeping, adherence to Prudential Accounting norms, consistent profitability and adoption of modern technology for betterment of customer service have earned the Bank a place of pride in the Banking Community.
The Bank has been richly endowed with a relatively young, dynamic and efficient manpower, which is the key factor of the Bank’s success. Excellence in performance and uniqueness in customer service form the central core of the Bank’s organisational culture. The growing confidence of its clientele is well reflected in the Bank’s performance in all critical areas of its operations all through the years.
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. The Bank’s Net Worth stood at Rs.3,765.45 crore as on 31.03.2007.
Corporation Bank is the first Public Sector Bank to publish the results under US GAAP. The Bank has been publishing the results under the US GAAP since 1998-99. The net profit of the Bank and its subsidiaries under US GAAP for the year 2004-05 stood at Rs. 435.89 crore against consolidated net profit of Rs. 350.69 crore registered under Indian GAAP method
As on 31.03.07, the Bank has a highly dedicated team of 11,880 employees who have made the encouraging performance of the Bank possible by extending exemplary services to its customers. The Bank will continue its endeavours in the development of human capital so as to provide unmatched services to its clientele.
The Bank has better productivity levels than many of its peers in the Public Sector. The details of the manpower position and the productivity is given below
As on 31st March, 2007, the aggregate business of the Bank stood at Rs. 72,306 crore comprising Rs. 42,356 Crore Deposits and Rs.29,950 Crore Advances . With its strategic business focus and innovation, the Bank is striving for better performance in the coming years. The Bank has an ambitious plan to raise its total business level to Rs.1,00,000 crore by March 2009.
