Who is the owner of Corporation Bank | wiki

Corporation Bank Limited is an Indian public sector and commercial bank. Know more about the owner of Corporation Bank and more company information. Corporation Bank Limited provides lending and other banking services for individuals and corporate customers in India.

About the owner of Corporation Bank Limited

Corporation Bank was incorporated in the year 1906. Formerly titled, Canara Banking Corporation (Udipi) Limited. The banking organization commenced in the temple town of Udupi, through the forward-thinking efforts of a group of idealists. The Bank started functioning with just Rs.5000/- as its capital. Notably, the resources stood at 38 Rupees-13 Annas-2 Pies at the end of the first day.

Khan Bahadur Haji Abdullah Haji Kasim Saheb Bahadur, the founder president committed to accomplishing the long-perceived banking needs of the people and also to enhancing the habit of savings, provided that helps to fund a financial institution. Eventually, leading to the prosperity of society.

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Jai Kumar Garg, currently managing director of Corporation Bank. Before taking charge as managing director, he acted as the executive director at UCO Bank. Qualified as a chartered accountant and additionally a certified Associate Member of the Indian Institute of Bankers (CAIIB).

He started his career in the industry as a chartered accountant in 1986 through Corporation Bank. Later, he served at varied Branches together with Industrial Finance Branches in New Delhi, the city, and Pune. Moreover, additionally worked at many administrative offices together with the Zonal workplace at Ahmedabad, Pune, New Delhi, and additionally at the Head office. As a general manager, he headed Circles of the Bank at Calcutta and Old Delhi.

• Shri. Gopal Murli Bhagat- Executive Director
• Shri. PVBN Murty- Chief Vigilance Officer

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The Founder President Haji Abdullah proclaimed that:

“The Primary object in forming ‘Corporation’ is not only to cultivate habits of thrift amongst all classes of people, without distinction of caste or creed but also habits of co-operation amongst all classes”.

“This is ‘Swadeshism’ pure and simple and every lover of the country is expected to come forward and co-operate in achieving this end in view ”

The first branch of the Bank was agreed upon at Kundapur in 1923. Eventually, the second was in Mangalore in 1926. The Bank paced into the later called Coorg State in 1934 by opening its seventh branch at Madikeri. Be noted, In 1937 the Bank was included in the second schedule of the Reserve Bank of India Act, of 1934.

The amalgamation in the name of the Bank happened in 1972, from ‘Canara Banking Corporation Ltd.’ to ‘Corporation Bank Limited.’ and lastly ‘Corporation Bank’ following its nationalization on 15th April 1980.

As of 30th September 2017, the Total Business of the Bank was Rs.3,29,300 crore. The Networth rose to Rs.11,737 crore. The Total Deposit stood at Rs.2,01,488 crore and the Total Advances were at Rs.1,27,812 crore.

Presently, the Bank has a structure of 2501 fully automated 3169 ATMs, CBS branches, and 4724 Branchless Banking Units across India. Moreover, the Bank has Representative Offices in Dubai and Hong Kong.

Finally, the Bank has extended Branchless Banking units to 4724 villages and has issued Smart Cards to all account holders in these villages for enabling them to operate their accounts at their doorsteps through the Business Correspondents appointed by the Bank.

• Corporation Bank India Limited customer care

• 1800 425 2407 (ATM Card Information)
• [email protected]
• 1800 425 3555

Customer Service Division, Corporate Office,

Mangala Devi Temple Road, Pandeshwar,

MANGALORE 575 001