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Corporation Bank introduces new products

02 Mar 2013 Evaluate

Corporation Bank has introduced three new products, in order to increase its vehicle loan portfolio and current account deposits. The interest rate offered for vehicle loan will be lowest at 10.40% for a period up to 7 years. Processing charges are fully waived under the scheme, which will be in force from March 1-15.

The bank has also launched the special current account for exporters and importers - Corp Global Current Account. This current account is mainly for the forex clients who do not enjoy any credit limits. As per the terms of the new account, a customer has quarterly average balance (QAB) of Rs 2.5 lakh under this scheme, the bank will not charge for forex transactions up to $50,000.

The bank has reported 24.62% fall in its net profit at Rs 303.17 crore for the quarter as compared to Rs 402.21 crore for the same quarter in the previous year.  However, total income of the bank has increased by 12.75% at Rs 4257.84 crore for quarter under review as compared to Rs 3776.30 crore for the quarter ended December 31, 2011.

Corp. Bank-Amalgamat Share Price

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Company Name CMP
State Bank Of India 1047.20
PNB 107.50
Bank Of Baroda 271.50
Canara Bank 126.15
Union Bank Of India 174.85
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