30-07-2012, 10:21 AM
Project on on Corporation Bank
Corporation Bank Report.docx.docx (Size: 703.38 KB / Downloads: 77)
Introduction
Vision:
“The Most Preferred Bank with Global Standards”
Mission:
To become a provider of World - Class Financial Services
To meet Customer expectations through Innovation and Technological Initiatives
To maintain leadership in inclusive banking
To enhance stakeholders' value
To fulfill national and social obligations
To create an environment, intellectually satisfying and professionally rewarding to the employees
To emerge as a role model for ethical values and Good Corporate Governance
Brief History:
Corporation Bank came into being as Canara Banking Corporation (Udipi) Limited, on 12th March, 1906, in the temple town of Udupi, by the pioneering efforts of a group of visionaries. The Bank started functioning with just Rs.5000/- as its capital and at the end of the first day, the resources stood at 38 Rupees-13 Annas-2 Pies. The Founder President Khan Bahadur Haji Abdullah Haji Kasim Saheb Bahadur, committed to fulfill the long felt banking needs of the people and also to inculcate the habit of savings, provided the much-needed impetus to founding a financial institution that would bring about prosperity to the society. The content of the first Appeal to the public dated 19th February, 1906 speaks volume about the lofty ideals and ethos behind the foundation.
Growing Bigger. Getting Closer.
The Bank has Representative Offices at Dubai and at Hong Kong. Presently, the Bank has a network of 1431 fully automated CBS branches, 1262 ATMs and 2625 Branchless Banking Units across the country. The Bank has also drawn up plans to open 700 new branches in the next five years.
The Bank has extended Branchless Banking units to 2625 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.
From 38 Rupees-13 Annas-2 Pies to Rs.2,18,985 crore and from a Networth of Rs.5,000 to Rs.7,138 crore, the evolution of the Bank from a Nidhi to graduate as a Premier Public Sector Bank and from the early days of Swadeshism to post-Liberalisation days, weathering two world wars, economic depressions, imbibing the latest in technology, responding to financial reforms and the unique record of uninterrupted posting of profits right from its inception in 1906, has been a corporate success story.