Corporation Bank rises on plan to sell Rs 1,000 crore of stressed loans to ARCs

Corporation Bank - (Amalgamated) | Bank - Public | BFSI | BSE: 532179 | NSE: CORPBANK

25 Aug 2015 Evaluate

Corporation Bank is currently trading at Rs. 48.05, up by 1.05 points or 2.23% from its previous closing of Rs. 47.00 on the BSE.

The scrip opened at Rs. 50.00 and has touched a high and low of Rs. 50.00 and Rs. 48.05 respectively. So far 9,859 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 78.90 on 22-Jan-2015 and a 52 week low of Rs. 46.50 on 24-Aug-2015.

Last one week high and low of the scrip stood at Rs. 55.10 and Rs. 46.50 respectively. The current market cap of the company is Rs. 3,669.00 crore.

The promoters holding in the company stood at 63.33% while Institutions and Non-Institutions held 29.37% and 7.30% respectively.

Corporation Bank, public sector lender, is planning to sell Rs 1,000 crore of stressed loans to Asset Reconstruction Companies (ARCs) by the end of this quarter. The bank’s gross bad loans stood at Rs 7,765 crore for quarter ending June 2015 against Rs 5,470 crore a year ago. In the same period, the share of bad loans to the total loan book stood at 5.4% as against 3.9%.

The bank is targeting a credit deposit growth of 12% for this fiscal year. It also plans to improve the share of low cost deposits. As of now the bank CASA (current and saving account) is around 19-20% and the bank is aiming to increase it to 25%.

Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank. Overall, the Bank has a wide network of over 9,000 centres across India, including 2,061 branches, 2,599 ATMs and 4,349 branchless banking units.

Corp. Bank-Amalgamat Share Price

22.60 0.00 (0.00%)

19-Mar-2020 18:01 View Price Chart

Peers

Company Name	CMP
State Bank Of India	1045.15
PNB	107.85
Bank Of Baroda	279.25
Canara Bank	129.00
Union Bank Of India	174.80
View more..

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