Corporation Bank shines on plans to open 300 branches this fiscal

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

26 Jun 2013 Evaluate

Corporation Bank is currently trading at Rs. 353.80, up by 3.95 points or 1.13% from its previous closing of Rs. 349.85 on the BSE.

The scrip opened at Rs. 351.05 and has touched a high and low of Rs. 355.00 and Rs. 350.45 respectively. So far 1,433 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. 343.15 on 25-Jun-2013.

\Last one week high and low of the scrip stood at Rs. 380.80 and Rs. 343.15 respectively. The current market cap of the company is Rs. 5,410.00 crore.

The promoters holding in the company stood at 59.82%, while Institutions and Non-Institutions held 32.94% and 7.24% respectively.

Corporation Bank is planning to open around 300 more branches this fiscal and another 900-1000 branches in the next three years. The bank has opened 207 branches in 2012-13 and its current branch strength stands at around 1,707. The bank would also increase the number of ATMs from 1,400 to 5,000 in the next three years whereby every branch would have an ATM.

During 2012-13 fiscal, the bank has managed to recover/upgrade loans worth Rs 1,509 crore against Rs 758 crore in the previous fiscal. It is among the top five public sector banks in almost 13 parameters.

The bank has reported 1.2% rise in net profit at Rs 356 crore for the fourth quarter of 2013 against Rs 351.3 crore in corresponding quarter of last fiscal. The total income for the same period grew by 15.6% at Rs 4,635.49 crore against Rs 4009.17 crore corresponding quarter of last fiscal.

Corp. Bank-Amalgamat Share Price

22.60 0.00 (0.00%)

19-Mar-2020 18:01 View Price Chart

Peers

Company Name	CMP
SBI	973.50
PNB	104.70
Canara Bank	129.35
Bank Of Baroda	266.00
Union Bank Of India	163.80
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