2017-06-30 :Corporation Bank likely to raise Rs. 3,500 crore via sale of shares
Public sector lender, Corporation Bank is looking for an opportunity to raise the capital of Rs. 3,500 crore via selling its shares to the institutional investors. The bank has also received an approval from its board to sell its shares through a qualified institutional placement method. The newly raised funds will be deployed by the bank towards expanding its banking activities as well as inorganic growth opportunities in the coming years.
2017-06-15 : Corporation Bank reduces MCLR by 5 bps
Corporation Bank has slashed its marginal cost of funds based lending rate (MCLR) by 5 bps. For overnight and one month maturities, the new MCLR will be 8.15 per cent, while for three months, new MCLR will be priced at 8.25 per cent respectively. However, the bank has kept its MCLR rate unchanged at 8.65 per cent and 8.75 per cent for six months and one year maturities. The new rates are effective from 15th June, 2017.
2017-05-22 :Corporation Bank posts net profit of Rs. 160 crore
Corporation Bank has registered a net profit of Rs. 160 crore for the fourth quarter of this fiscal year as against a loss of Rs. 510.97 crore in the corresponding period of the previous fiscal.The increase in bank’s profit is due to increase in its CASA deposits and effective management of non-performing assets (NPA).
2016-12-07 :Corporation Bank bags Best MSME Bank award
Corporation Bank has received Best MSME Bank award 2016. The award was instituted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) at SMEs Excellence Award 2016 held at New Delhi on 6th December, 2016. Banks in this category were evaluated on the basis of growth, technology, innovation, CSR activity, targets and quality in MSME sector.
2016-08-10 :Corporation Bank Q1 Net Profit down Rs. 168 cr
As per Q1 FY17 results, Corporation Bank has registered a drop of 82.41 per cent in net profit to Rs. 35.92 crore in the June quarter of FY17 from Rs. 204.26 crore in the corresponding period of previous fiscal. The gross and net NPAs as a percentage stood at 11.52 per cent and at 7.22 per cent, respectively, during the June quarter of FY17. The net interest income of Corporation Bank stood at Rs. 1031.16 crore in the June quarter of FY17 from Rs. 1080.72 crore in the same period of previous fiscal.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.