Financial Daily from THE HINDU group of publications
Monday, Mar 14, 2005
Financial Daily from THE HINDU group of publications Monday, Mar 14, 2005 |
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Money & Banking
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Public Sector Banks Agri-Biz & Commodities - Farm credit Industry & Economy - Rural Development Corporation Bank to focus on rural development Our Bureau
Mangalore , March 13 IMPLEMENTATION of rural development programmes and introduction of `innovative technology-driven' products are high on the agenda of Corporation Bank during the centenary year, according to the Chairman and Managing Director of the bank, Mr V.K. Chopra. Welcoming the gathering at the inauguration of the year-long centenary celebrations here on Saturday, he said the bank will give thrust to education in its rural development activities. The bank is also introducing `Corp Kisan Card', a debit card, for farmers. Corporation Bank is also planning to set up a `high-tech' public library in Mangalore. This library will house a research-cum-study centre, a yoga centre, and a numismatic museum. Mr Chopra said that the total business of the bank stood at Rs 40,540 crore as on December 31. The aggregate deposits and net advances stood at Rs 24,174.59 crore and Rs 16,366.35 crore respectively during the period. He said the bank's net worth improved to Rs 3,063 crore and capital adequacy ratio stood at 20.27 per cent. The net NPA, which came down by 20 basis points in the last one year, stood at 1.49 per cent. Mr Chopra said that the bank has 1,655 service outlets, including 773 branches. He said 361 branches have been brought under core banking solution network. The bank has been paying dividend continuously for the past 98 years, he added.
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