Money & Banking

Corp Bank aims to cross ₹3-lakh cr business: CEO

Our Bureau Mangaluru | Updated on March 12, 2019 Published on March 12, 2019

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Corporation Bank is looking at a business of ₹3-lakh crore soon, according to PV Bharathi, Managing Director and CEO of the bank.

Delivering the keynote address at the 114th Foundation Day of the bank in Mangaluru on Tuesday, she said the bank, which came out of the prompt corrective action (PCA) framework of the Reserve Bank of India recently, will be focussing on business growth.

The bank, which achieved a business of ₹2.85-lakh crore, is looking forward to cross the ₹3-lakh-crore-mark very shortly, she said.

The efforts put in by Corporation Bank to bring down non-performing assets (NPAs) have yielded good results with the bank coming out of the PCA framework. Though the deterioration in asset quality had impacted the bank’s business, the efforts put in by all stakeholders, including the staff at various levels, have helped the bank meet the norms and come out of PCA, she said.

Terming customers as the guiding light of the bank, she said their role is significant in the 114-year journey of the bank.

The bank also launched its revamped mobile banking app – CorpEase – on the occasion. The app, which was available in one language earlier, will now be available in nine more languages, she said.

As part of its corporate social responsibility, the bank extended a financial support of ₹22.03 lakh to Shivamogga Institute of Medical Sciences for three haemodialysis machines.

GM Bhagat and Birupaksha Mishra, Executive Directors of the bank, were present on the occasion.

Published on March 12, 2019
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