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Corporation Bank shines on introducing special schemes on auto loans

06 Mar 2013 Evaluate

Corporation Bank is currently trading at Rs. 403.05, up by 1.70 points or 0.42% from its previous closing of Rs. 401.35 on the BSE.

The scrip opened at Rs. 404.00 and has touched a high and low of Rs. 408.95 and Rs. 402.45 respectively. So far 2,076 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 494.85 on 07-Jan-2013 and a 52 week low of Rs. 362.05 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs. 410.00 and Rs. 393.20 respectively. The current market cap of the company is Rs. 5,970 crore.

The promoters holding in the company stood at 58.52% while Institutions and Non-Institutions held 34.09% and 7.39% respectively.

Corporation Bank has introduced special schemes to boost auto loans, in order to make up for the slowing corporate credit off take. It is planning to disburse at least Rs 800 crore during its 15-day bumper car carnival. The special offer comes at an interest rate of 10.4% and with no processing fee. It will sanction a loan within two working days.

The bank has sharpened its focus on its retail loan portfolio. During September 1, 2012, to January 31, 2013, it has built a retail loan portfolio of Rs 3,400 crore from across the country. Out of which, home loans accounted for Rs 1,800 crore and car loans, Rs 900 crore, having a big room for growth in these areas.

Corp. Bank-Amalgamat Share Price

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Peers
Company Name CMP
SBI 1066.70
PNB 111.70
Canara Bank 140.10
Bank Of Baroda 276.00
Union Bank Of India 189.00
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