Corporation Bank, public sector lender, is reportedly planning to set up five e-lobby branches in Vijayawada and Guntur in the state of Andhra Pradesh by the end of the December 2015. Further, in order to reduce pressure from Vijayawada and Nellore zones, the bank will create its third zone at Visakhapatnam in the State by March 2016.
Recently, the Bank has opened its Forex Hub in Bengaluru. The Bangalore Forex Hub would handle the bank’s Forex transactions across south India. Two more Forex Hubs would be opened at Mumbai and Delhi in two phases to ensure the smooth processing of forex related transactions.
Corporation Bank is a Mangalore-based mid-sized public sector bank. The bank has reported 17.50% rise in its net profit at Rs 188.60 crore for the quarter ended September 30, 2015 as compared to Rs 160.51 crore for the same quarter in the previous year. The bank’s total income has increased by 3.93% to Rs 5434.65 crore for the quarter under review from Rs 5229.06 crore for the corresponding quarter of the previous year.
