bse 532179 nse corpbank industry banking founded udupi 12 march 1906 ; 110 years ago 1906 03 12 headquarters mangalore karnataka india key people jai kumar garg ceo md products loans credit cards savings investment vehicles etc. operating income 14 510.40 crore equivalent to 190 billion or us 2.8 billion in 2016 financial year 2011 12 net income 1 506.04 crore equivalent to 20 billion or us 300 million in 2016 march 2012 owner government of india website www.corpbank.com corporation bank is a public sector banking company headquartered in mangalore india . the bank has pan india presence with 8 000 functional units comprising 2200 branches 1800 atms and 3 000 branchless banking units as of 30 january 2015 . the total business of the bank during the financial year 2014 15 has been 3 44 412 crore equivalent to 3.6 trillion or us 54 billion in 2016 as of 31 march 2015 . the total deposits have grown to 1 99 346 crore equivalent to 2.1 trillion or us 31 billion in 2016 . total income of the bank reached 21 038.02 crore equivalent to 220 billion or us 3.3 billion in 2016 during this period . operating profit of the bank reached 965.37 crore equivalent to 10 billion or us 150 million in 2016 and net profit 584.26 crore equivalent to 617 crore or us 92 million in 2016 . contents 1 history 2 110 years of banking 3 projects 4 ratings 5 awards 6 recognition 7 products and services 8 see also 9 references 10 external links history edit sterling road branch chennai tamil nadu corporation bank the oldest banking institution in the erstwhile undivided south canara district of the madras presidency and one of the oldest banks in india was founded on 12 march 1906 in the temple town of udupi by a small group of philanthropists led by khan bahadur haji abdulla haji kasim saheb bahadur . the need to start this bank was felt because there was no such facility at udupi an important trading centre next to mangalore in south canara district . the indigenous banking was largely in the hands of a few rich private individuals and something had to be done to provide relief to the common man from the clutches of the money lenders who held full sway . the first branch of a modern bank established in the district was the bank of madras one of the three presidency banks which set up its office in mangalore in 1868 largely to cater to the business needs of a few british firms dealing in export of plantation products . its agent used to visit udupi once a fortnight or so to do banking . money remittances had to be made only through postal medium . to overcome these drawbacks and also to provide banking facilities for udupi in particular and the district in general a cosmopolitan group of philanthropists led by haji abdulla saheb made a bold venture to start this institution . what inspired the founding fathers was the fervour of swadeshism . for promoting the bank the founder president made an appeal saying the primary object in forming the corporation is not only to cultivate habits of thrift amongst all classes of people without distinction of caste or creed but also habits of co operation amongst all classes . this is swadeshism pure and simple and every lover of the country is expected to come forward and co operate in achieving the end in view . they rightly defined swadeshism as institution building to aid economic activity through co operation of all shorn of distinction of caste and creed . the canara banking corporation udupi limited as the institution was called then started functioning as a nidhi with a humble beginning . the initial capital was 5 000 and at the end of the first day its resources stood at 38 rupees 13 annas and 2 pies . the setting up of the canara banking corporation ltd. seems to have given a fillip to co operative banking and also to regular banking elsewhere in the district . between 1909 and 1917 six co operative banks came into being and during the decade immediately after the first world war 1914 18 south canara gave birth to as many as eight banks . it is to the credit of this bank that despite two world wars economic depression and stiff competition the bank not only quite survived but also made satisfactory progress . having been started at udupi the bank first branched out by opening a branch at kundapur in 1923 . the second branch of the bank was opened in mangalore at car street in 1926 . the bank stepped into kodagu district in 1934 by opening its seventh branch in madikeri . in 1937 the bank was included in the second schedule of reserve bank of india act 1934 . in 1939 the bank s name changed from canara banking corporation udupi ltd. to canara banking corporation ltd. the bank graduated into a regional bank in 1945 when the total number of its branches stood at 28 . in 1961 it took over bank of citizens of belgaum . in the same year the bank s administration office shifted from udupi to mangalore . the second change in the name of the bank occurred in 1972 from canara banking corporation ltd. to corporation bank limited . the bank was nationalised in 1980 along with 5 other private sector banks . after nationalisation the pace of growth of the bank accelerated and it made all round progress . started as a common man s bank it changed with the times to meet the aspirations of the people but never swerved from its motto sarve janah sukhino bhavantu meaning prosperity for all . it endeavoured and succeeded in striking a right balance between traditional values and innovative approach personalised service and professional outlook and commercial considerations and public concern . one of the unique achievements of the bank is that it has been paying dividend continuously for the last 98 years since its inception . today with the most modern technology driven products and services and nationwide branches & atms corporation bank stands tall among the public sector banks in india and is hailed as one among the well managed public sector banks with excellent track record in all the key parameters of banking . the bank has the second largest atm network in the public sector . corporation bank had the honour of playing host to many a distinguished personality . during the bank s platinum jubilee celebrations in 1976 the new administrative office building at pandeshwar mangalore was opened by sri b.d.jatti the then vice president of india . the bronze statue of pandit jawaharlal nehru installed by the bank at the traffic island in front of its corporate office at pandeshwar mangalore was unveiled by mr. justice e.s. venkataramaiah the then chief justice of india . in 1992 r. venkataraman the then president of india visited the bank to inaugurate its 85th anniversary celebrations and 60th anniversary of the bank s commencement of operation in tamil nadu state . in 1996 mr. justice a. m. ahmadi the then chief justice of india visited the bank to deliver the 90th year commemorative lecture . corporation bank house the new premises of the bank s car street mangalore branch was inaugurated by dr. manmohan singh who was then the union finance minister . dr. c. rangarajan the then governor of reserve bank of india launched the prestigious deposit product corp classic during his visit to the bank s corporate office in 1997 . the bank s new millennium building was inaugurated by union minister of state for finance vikhe patil in 2000 . in the same year union finance minister yashwant sinha launched the bank s corpfast product at the corporate office . corporation bank was the first public sector bank other than state bank of india ascociates to achieve 100 % cbs core banking solutions developed and implemented by laser soft infosystems limited chennai . 1 110 years of banking edit corporation bank completed hundred and ten years of existence on 12 march 2015 . on the occasion of 107th foundation day celebrations held at tma pai hall in mangalore five eminent personalities who made immense contributions to the society were honoured by the bank . they include dr. b.m. hegde eminent physician dr. b. ramana rao eminent cardiologist mrs. ela bhatt social entrepreneur and founder of sewa dr. b.r. shetty entrepreneur and dr. kadri gopalnath eminent saxophonist . a new application for internet banking in ipad was launched on this occasion . a new caller tune for the bank for bank s mobile landline phones was also inaugurated in the function . the centenary celebrations were launched by shri v. leeladhar deputy governor reserve bank of india with the bank s foundation day lecture on 12 march 2005 . as a part of the bank s centenary celebrations a number of programmes and projects were planned and executed . as a first step the bank has launched the corp kissan card debit card tied up with visa international to enable the farmers make timely purchases for agricultural operations.at yeshwantpur malur in kolar district on 13 march 2005 . a modern public library was dedicated to the citizens of mangalore in dk district the birthplace of the bank by shri p. chidambaram honourable union finance minister on 2 march 2006 . the library building also houses a numismatic museum and a multi purpose hall for intellectual activities . the bank has also set up libraries in 25 villages and given away scholarship to 100 meritorious students of such villages for the pursuit of their higher education . such libraries will be set up in 75 more villages in a phased manner . corporation bank a corporate journey the history of the bank and haji abdullah saheb a biography of the bank s founder president have been published on the occasion of the valedictory function of the bank s centenary celebrations . 1 projects edit to cater to the sme & agricultural segments the bank maintains exclusive sme loan centres in sixteen cities across india . the bank maintains online banking for its retail and corporate customers through a system called corpnet . the bank also allows personal internet banking through this application . the bank runs project sankalp a business process re engineering and organizational management project the bank has a wing named corp kiran an association of wives of senior executives of corporation bank for understaking activities related to corporate social responsibility csr . ratings edit crisil has re affirmed the following programmes of corporation bank 2 billion bond issue aa certificate of deposits programme p1 fixed deposit programme faaa 2 awards edit corporation bank received the winner award jointly with indian bank for cheque truncation system under the mid sized category . the bank also received two runner up awards for national financial switch for its performance in acquirer transactions and immediate payment service imps . corporation bank is ranked first under national awards for excellence in mse lending and second under national awards for excellence in lending to micro enterprises for the year 2012 13 under public sector banks from ministry of micro small and medium enterprises . corporation bank has won the iba banking technology award 2012 13 for best use of mobility technology in banking . shri s r bansal chairman & managing director of the bank received the award at the function held at mumbai on 27 january 2014 . for its impressive lending to sme sector the bank has been awarded an skoch achievers award by skoch delhi on 22.3.2014 . national award for assistance to exporters from the president of india 1976 77 gem & jewellery export promotion council award successively for 5 years from 1981 to 1985 shiromani award