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CORPORATION BANK

Jan 21, 2020 351

HISTORY:

The Bank of the Corporation was born as Canara Banking Corporation (Udipi) Limited, on March 12, 1906, in the city of Udupi Temple, for the pioneering efforts of a group of visionaries. The Bank started operating with only Rs.5000 / - as its capital and at the end of the first day, the resources stood at 38 rupees-13 Annas-2 Feet.

President Founder Khan Bahadur, Haji Abdullah Haji Kasim Saheb Bahadur, committed to meeting people's banking needs for a long time and also to instill the habit of saving, provided the impetus needed to found a financial institution that would bring prosperity to society . society.

The content of the first appeal to the public dated February 19, 1906 speaks volumes about the lofty ideals and ethos behind the foundation. Founding President, Haji Abdullah, stated that:

"The main object in the formation of" Corporation "is not only to cultivate saving habits among all classes of people, without distinction of caste or creed, but also habits of cooperation between all classes.

"It" Swadeshism "pure and simple, and is expected to go ahead and cooperate to this end in the light of all the lovers in the country."The initial growth cautious a conscious and on the basis of need.First branch opened in Kundapur in 1923, followed by a second branch in Mangalore in 1926. Bank of state income Coorg and then in 1934, and opened the seventh branch in Madikeri. In 1937, the bank was included in Schedule II of the Reserve Bank of India for the year 1934. Law in 1939, has been transferred Bank Name of bank Canara Corporation (Udipi) Limited for "Canara Banking Corporation Limited" under the slogan "Sarve Janah Sukhino Bhavantu", which means "prosperity for all". The second change in the bank's name happened in 1972.

In the midst of all this, the Bank has crossed Rs.1000 crore deposits brand in 1985 and began in the 1990s with a focus on high-quality development through the adoption of new technologies. The end of the first phase of banking sector reforms in India have seen the West and emerging Bank's most innovative and dynamic public sector, outperforming other banks in terms of asset quality and capital adequacy, and operating efficiency, base revenues are well diversified, profitability, productivity and strong balance. Demonstrated an enormous amount of trust and loyalty deposited by the public and the general customers, particularly in the large demand for the IPO in the bank in 1997.

As of March 31, 2016, the total business of the bank crore Rs.3,45,493. Total deposits stood at Rs.2,05,171 crore and total advances were Rs.1,40,322 crore. Networth increased to Rs.11, 344 crore. Currently, the Bank's branch network in 2440 CBS fully automated 0.3040 ATMs and 4724 banking unit without branches across the country. And the Bank has representative offices in Dubai and Hong Kong. The bank has extended units of bank branches to the 4724 village and issue smart cards to all account holders in these villages to enable them to work in their accounts doors through business correspondents appointed bank.Of 38 rupees-13-Hanan 2 feet on the business level of Rs.3,45,493 crore and Networth from Rs.5,000 / - to Rs.11,344 crore, and the evolution of the bank Nidhi to graduate as a Premier Public Sector Bank since the first days of Swadeshism to the days after the liberation was the company's success story. Facing the two world wars, economic recession, and absorb the latest technology, and the response to the financial reforms and scored one of the publication of uninterrupted profit since its inception in 1906, it boosted not only increase its commitment to the people.

CHAIRMAN:  S R Bansal