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Corporation Bank surges on opening SME Loan centre in Coimbatore

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

11 Jun 2012 Evaluate

Corporation Bank is currently trading at Rs. 434.55, up by 6.35 points or 1.48% from its previous closing of Rs. 428.20 on the BSE.

The scrip opened at Rs. 427.95 and has touched a high and low of Rs. 435.90 and Rs. 427.95 respectively. So far 10864 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 541.50 on 15-Jun-2011 and a 52 week low of Rs. 335.50 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 435.90 and Rs. 405.00 respectively. The current market cap of the company is Rs. 6427.33 crore.

The promoters holding in the company stood at 58.52% while Institutions and Non-Institutions held 35.06% and 6.41% respectively.

Corporation Bank, Mangalore-based lender has opened eighth exclusive SME Loan centre in Coimbatore on June 9, 2012. The other centers are located at Delhi, Hyderabad, Bangalore, Chennai, Pune, Mumbai and Vadodara. The center was formally launched by Ajai Kumar, Chairman and Managing Director of Corporation Bank. The bank is planning to expand credit flow to the SME segment.

In the next two months bank is likely to open eight more SME Loan centers. It is planning to strengthen its existence in Gujarat, Rajasthan and Uttar Pradesh. These centers will help to quicken the loan sanction process time, as each SME Centre is supported by dedicated team of Relationship Managers and exclusive Central Credit Processing mechanism.

The bank has posted a rise of 1.72% in its net profit at Rs 351.26 crore for the quarter ended March 31, 2012 as compared to Rs 345.33 crore for the same quarter in the previous year. Total income has increased by 32.35% at Rs 4009.17 crore for quarter under review as compared Rs 3029.21 crore for the quarter ended March 31, 2011.

Corp. Bank-Amalgamat Share Price

22.60 0.00 (0.00%)

19-Mar-2020 18:01 View Price Chart

Peers

Company Name	CMP
SBI	1080.35
PNB	114.50
Canara Bank	142.35
Bank Of Baroda	280.00
Union Bank Of India	188.90
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Corporation Bank surges on opening SME Loan centre in Coimbatore

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