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Corporation Bank gains on introducing Grand Festival Bonanza for various loan schemes

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

30 Aug 2012 Evaluate

Corporation Bank is currently trading at Rs. 367.90, up by 0.80 points or 0.22% from its previous closing of Rs. 367.10 on the BSE.

The scrip opened at Rs. 368.00 and has touched a high and low of Rs. 368.95 and Rs. 362.05 respectively. So far 6,215 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 528.45 on 16-Feb-2012 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. 380.60 and Rs. 362.05 respectively. The current market cap of the company is Rs. 5,449.00 crore.

The promoters holding in the company stood at 58.52% while Institutions and Non-Institutions held 34.03% and 7.45% respectively.

Corporation Bank has launched Grand Festival Bonanza for various loan schemes on August 29, 2012 to focus on retail and SME (small and medium enterprise) segments to boost growth during the second and third quarters of the current fiscal. This initiative will be in force for three months from September 1. The bank aims to increase the yield and give new current account and savings bank business through Grand Festival Bonanza.

Under this festival, home loans under the floating rate will get a concession of a minimum of 25 basis points (bps) and vehicle loans 75 bps. The reduction will be 50 bps for other schemes such as Corp Vyapar and Corp Doctor Plus.

The bank has registered a rise of 5.35% in its net profit at Rs 370.26 crore for first quarter ended June 30, 2012 under review as compared to Rs 351.45 crore for the same quarter in the previous year.

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
View more..

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Corporation Bank gains on introducing Grand Festival Bonanza for various loan schemes

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