CORPBANK

In 1906, the company was incorporated at Udipi, and the bank transacts banking business of every description. Also, the undertaking of the bank was being taken over by Government by an Ordinance promulgated as of 15th April 1980, Banking Companies (the acquisition and transfer of Undertakings) Ordinary, 1980 and also vested in a new bank under the name "Corporation Bank." It also sponsored an RRB under the name "The Chikmagalur-Kodagu Grameen Bank." In 1984, INR 10 lakhs were contributed by Govt. and in 1985, INR 440 lakhs was contributed by Govt. and in 1986, INR 200 lakhs was contributed by Govt. and in 1988, INR 400 lakhs was contributed by Govt. and in 1990, INR 500 lakhs was contributed by Govt. and in 1991, INR 2000 lakhs was contributed by Govt. and in 1992, INR 3000 lakhs was contributed by Govt. and in 1993, INR 4500 lakhs was contributed by Govt.

Some of the Milestones:

• 1996:
• The total Branch Automation package was launched in 46 branches and also taking the total number of branches under the TBA project to 151.
• Also, INR 30, 00, 00,000 was returned during the year.
• 1997:
• On 31st March, the bank per capital investment under the IRDP was INR 9000.
• About 84 branches were provided with Satellite-based Communication Network System (E-Mail taking the total number of branches), along with E-Mail connectivity to 219.
• It was working on a joint venture with the National Housing Bank (or NHB) to form a housing finance company.
• RBI has, in principle, approved the Mangalore-based Corporation Bank's proposal for setting up a wholly-owned housing finance subsidiary.
• 1998:
• It obtained registration for its first wholly-owned subsidiary named, Corp-bank homes Ltd from the National Housing Bank.
• It also set up a housing finance subsidiary, CorpBank Homes Ltd that was inaugurated as of 22nd May in Mangalore.
• 1999: It was confident of its subsidiary doing well in the primary dealership firm as it had the most active treasury departments among the public sector banks.
• 2000:
• Also, the Industrial Finance Branch of the Bank in New Delhi received the ISO 90002 certificate being issued by Det Norske Veritas, Netherlands.
• It had launched its telebanking facilities known as 'Corp Dial' at its home city-Mangalore and Udupi in Karnataka.
• It also became the first public sector bank in the nation to adopt US GAAP accounting standards.
• Also, Public Sector Corporation Bank entered a three-way tie-up to foray into the life insurance sector and also created a separate division within the bank to speed up the procedure of entry.
• It chose Chennai for launching its `Any branch banking' product by covering the 12 computerized branches in the city.
• It launched "Corp Access" - which is the bank's any branch banking product at Chennai.
• Also, SalahkarIndia.com tied up with the bank to display its products on the investment site of SalakharIndia.
• It also launched a payment processing center for its corporate clients.
• It also launched its Internet-based cash management service for its corporate customers.
• 2001: P.K. Gupta was appointed as the Wholetime Director and designated as Executive Director since February 23, in place of Mr. N.S. Gujral.
• 2002:
• The Central Govt. nominated Pradeep Kumar as the Non-Executive Director of the bank.
• Also, it informed that at the 5th Annual General Meeting of the Shareholders was held on July 24, 2002, and the following shareholders were declared elected as the Directors on the Board of the Bank, representing the shareholders.
• Shri K Venugopal, the Director on the Board of the Bank resigned as Director since September 12, 2002.
• 2003:
• It obtained the right to host ATMs at 14 stations of the Western Railway.
• It declared that Shri A Ramamurthy, Director on the Board of the Bank expired as of February 23, 2003.
• It allied with ECGC (or Export Credit Guarantee Corporation) for a corporate agency tie-up.
• It donated INR 1 crore to Prime Minister's National Relief Fund.
• It signed an MoU to collaborate with Eicher for financing the tractors to farmers.
• It bagged the Forbes Award.
• 2004:
• It signed an agreement with DSP Merrill Lynch Mutual Fund.
• It inked pact with Toyota Motors.
• It signed a Memorandum of agreement with Honda Siel Power Products Ltd. for offering easy loans for purchasing Honda power generators.
• The Andhra Bank inked pact with Corpn Bank to share ATMs.
• It opened 5 more branches in Bangalore.
• It received the Best Public Sector Bank award.
• It tied-up with Tractors and Farm Equipment Ltd for financing tractors to farmers.
• It tied-up with Bajaj Auto Ltd to finance two-wheelers.
• It signed a memorandum of understanding with SAME Deutz-Fahr India (P) Ltd for financing its tractors to farmers.
• It inked an MoU with Greaves Cotton Ltd. for financing farm machines to farmers.
• It agreed, along with the Indian Railway Catering and Tourism Corporation (or IRCTC) for online booking of railway tickets.
• 2005:
• It rolled out a Kisan Card for farmers.
• It inked an agreement with IL&FS Investsmart for offering capital market services to the bank's customers.
• It opened its CAPS branch.
• It received an 'Outstanding Achiever of the Year' award.
• It introduced hi-tech products.
• 2006:
• It unveiled 3 schemes for SMEs.
• It acquired Oman Exchange Company.
• It set up the hi-tech library.
• 2007: It joined hands with Mumbai's dabbawallas to source the clients for offering banking services.
• 2008:
• It declared national excellence awards for 21 entrepreneurs consisting of micro, small and medium entrepreneurs and an emerging corporate.
• It rolled out a reverse mortgage scheme.
• 2009: It signed a MoU with Mahindra & Mahindra (or M&M) Ltd and its joint venture company named Mahindra Navistar Automotives Ltd (or MNAL), for a vehicle finance.
• 2010:
• It appointed Shri Narendra Singh, General Manager, Allahabad Bank as a whole-time director (designated as Executive Director) of the bank.
• It received the SKOCH Challenger Award 2010 for the 'Inclusion Champion of the Year,' instituted by SKOCH Consultancy Services Pvt Ltd.
• 2011:
• It launched a mobile wallet payment system.
• Shri C. G. Pinto, General Manager, was appointed as the Chief Financial Officer of the Bank & Shri P. R. Karanth as General Manager.
• It appointed L. K. Meena as director.
• It appointed M/s. Suresh Chandra & Associates, New Delhi as the new Statutory Central Auditors of the Bank in 2011-12.
• Shri S K Dash was appointed as the Company Secretary of the bank.
• 2012:
• It offers concessional loans to SMEs in the festive season.
• It recommended a dividend of 205%, i.e., INR 20.50 per share of the face value of INR 10 each.
• 2013:
• It inked a MoU with warehousing firm.
• It set up an additional SME loan center across India.
• 2014:
• It tied-up with Thomas Cook and Master Card.
• It launched an EMV compliant forex travel card.
• It bagged Indira Gandhi Official Language Awards being instituted by the Ministry of Home Affairs, Government of India.
• 2015: It launched Tier-I bonds -Corporation Bank inked an MoU with New India Assurance.
• 2016:
• Also, the Indian Army, Corporation Bank signed an MoU on defense salary package.
• It bagged the Best MSME Bank Award 2016 instituted by The Associated Chambers of Commerce & Industry of India (or ASSOCHAM).
• It bagged the "Excellence Award on Empowering MSMEs 2016."
• It bagged the "SKOCH Achiever Award - 2016" for the National SME enablement.
• It bagged 10 awards from NABARD for the ‘Best Performance under Self Help Group (SHG)/Joint Liability Group (JLG) Bank Linkage Programme’ in Karnataka for the F.Y. 2013-14 & 2014-15.