Corporation Bank Probationary Officers Exam ResultsAbout Corporation BankCorporation Bank was first started in the name of Çanara Banking Corporation (Udupi) Limited almost 103 years back. The bank started functioning on 12th March 1906 from Udupi, a place in Karnataka state. Founder of the bank was Mr. Khan Bahadur Haji Abdullah Haji Kasim Saheb Bahadur. The bank started gaining popularity too soon and the first branch was opened at Kundapur in Karnataka in 1923. Another branch was opened in Mangalore in 1926. Madikeri got another branch, also the 7th one in Coorg in 1934. The immense growth made the bank to be placed on the second schedule of Reserve Bank of India Act, 1934. Post Independence a lot of changes happened in the business scene in India. Most of the banks got nationalized in the 60’s and 70’s. Corporation bank was nationalized in 1980. The bank was started with just Rs. 5000/- as the initial capital but today has already crossed the One Lakh Twenty Five Crore mark. Bank owns more than 2000 outlets and enough no. of ATM centres to meet the needs of the ever growing customer base. The bank draws its main strength from its well – trained 12000 plus strong staff who are equally responsible for the banks popularity even in the present competitive banking industry. When the Corporation Bank moved into capital market, it became only the Second Public Sector Bank in India to do so. The popularity was clearly visible when the bank’s IPO got 13 times more response than expected. The Cash Management Services, Gold Banking, m-Commerce, Önline” for the Educational loans were all first introduced by the Corporation Bank. It was also the first bank to get 100% CBS compliance. For rural banking sector, the bank has introduced low-cost branchless banking – business Correspondent model. Customers have shown their immense faith in the bank by maintaining the accounts for generations.
Corporation bank has tuned with the time by maintaining its account in 15 foreign currencies with well-known banks like HSBC and Citi Bank. Overseas Representative Offices (ORO) have been opened in Dubai and Hongkong.
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