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Corporation Bank - (Amalgamated) Stock Analysis

Mid Cap
Evaluated by 2307 users | BSE: 532179 | NSE: CORPBANK |
Bank - Public
Corporation Bank incorporated in the year 1906 with a seed capital of Rs.5000. The Bank has Representative Offices at Dubai and at Hong Kong. Presently, the Bank has a network of 1361 fully automated CBS branches, 1250 ATMs and 2500 Branchless Banking Units across the country. The Bank has...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Corporation Bank - (Amalgamated) has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Net Interest Income (Rs. Cr.)1,9032,9403,1473,4263,7844,0704,2394,4514,8385,508
Y-o-Y Gr. Rt.33-54.5%7.1%8.9%10.5%7.6%4.2%5%8.7%13.9%
Total Income8,48110,39114,51016,94219,60621,03921,14622,56219,94117,495
Y-o-Y Gr. Rt.-22.5%39.6%16.8%15.7%7.3%0.5%6.7%-11.6%-12.3%
Adjusted EPS (Rs.)
Adjusted Earning per Share is the company’s net profit per share after adjusting for extra-ordinary/exceptional items
16.3219.0820.3318.766.716.97-4.954.89-24.34-10.57
Y-o-Y Gr. Rt.-16.9%6.6%-7.7%-64.2%3.9%-171%NA-597.8%NA
Book Value per Share (Rs.)
The total value that a company will fetch upon liquidation (if it is closed down), after settling all obligations is called its Book Value. Book value of a company includes only tangible assets. Book value allocated to each outstanding share is called Book Value per share
80.5296.37111.74125.11120.39125.16104.51105.0461.2426.13
Y-o-Y Gr. Rt.-19.7%16%12%-3.8%4%-16.5%0.5%-41.7%-57.3%
To view Net Profit/Total Funds (%) Colour Rating Guide click here
Net Profit/Total Funds (%)
  • >1.25 : Very Good
  • 1-1.25 : Somewhat Good
  • <1 : Not Good
Net Profit/Total Funds (%)1.181.110.980.80.270.26-0.220.23-1.73-2.91
To view Net NPA to Net Advances (%) Colour Rating Guide click here
Net NPA to Net Advances (%): Colour Rating Guide
  • < 0.5 : Very Good
  • 0.5-1 : Somewhat Good
  • >1: Not Good
Net NPA to Net Advances (%)0.310.460.871.192.323.086.538.3311.745.71
To view Capital Adequacy Ratio Colour Rating Guide click here
Capital Adequacy Ratio: Colour Rating Guide
  • > 12% : Very Good
  • 9%-12% : Somewhat Good
  • <9%: Not Good
Capital Adequacy Ratio - - - - - - - - - 0%
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Corporation Bank - (Amalgamated) should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Interest Income12.5%7.8%9.1%13.9%
Total Income8.4%-2.3%-6.1%-12.3%
Adjusted EPS
Adjusted Earnings per Share is the Company’s net profit per share after adjusting for extra-ordinary/exceptional items.
-195.3%-209.5%NANA
Book Value per Share
-11.8%-26.3%-37%-57.3%
Share Price -13.5% -12.3% -21.4% 44.9%
Key Financial Ratios
RATIOS \ YEARSMar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Interest Earned / Total Income82.3987.9189.7190.5191.692.9591.7986.388.489.3
Margins
To view Margins Colour Rating Guide click here
Margins: Colour Rating Guide
  • >2.75 : Very Good
  • 1.75-2.75 : Somewhat Good
  • <1.75 : Not Good
NIM (%)1.752.091.971.811.741.931.941.942.42.84
Performance Ratios
To view Performance Ratios Colour Rating Guide click here
Performance Ratios: Colour Rating Guide
  • >15% : Very Good
  • 12%-15% : Somewhat Good
  • <12% : Not Good
Return on Equity (%)21.9321.8919.5416.085.725.68-4.784.94-36.44-48.98
Liquidity Ratio
To view Liquidity Ratio Colour Rating Guide click here
Liquidity Ratio: Colour Rating Guide
  • >35 : Very Good
  • 25-35 : Somewhat Good
  • <25 : Not Good
CASA (%) 28.5525.9522.1221.6820.3319.7222.1426.4729.5231.59
Entity Percentage Holding
Promoters 93.50%
Institutions 4.49%
Non-Institutions 2.01%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Corporation Bank - (Amalgamated) and arrived at the following conclusion:

Past 10 year's financial track record indicates that Corporation Bank - (Amalgamated) is a average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Corporation Bank - (Amalgamated)'s performance infers:

Corporation Bank - (Amalgamated) earnings have declined by -209.5%, whereas share price has depreciated -12.3% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Corporation Bank - (Amalgamated) share prices over the last 10 years. Here is what we found out:

Corporation Bank - (Amalgamated) share price has depreciated -17.2% annually over the past ten years.

Corporation Bank incorporated in the year 1906 with a seed capital of Rs.5000. The Bank has Representative Offices at Dubai and at Hong Kong. Presently, the Bank has a network of 1361 fully automated CBS branches, 1250 ATMs and 2500 Branchless Banking Units across the country.

The Bank has many ‘firsts’ to its credit - Cash Management Services, Gold Banking, m-Commerce,  Online approvals for Educational loans, 100% CBS Compliance.On August

Corporation Bank incorporated in the year 1906 with a seed capital of Rs.5000. The Bank has Representative Offices at Dubai and at Hong Kong. Presently, the Bank has a network of 1361 fully automated CBS branches, 1250 ATMs and 2500 Branchless Banking Units across the country.

The Bank has many ‘firsts’ to its credit - Cash Management Services, Gold Banking, m-Commerce,  Online approvals for Educational loans, 100% CBS Compliance.On August 2010, Corporation Bank has inked a memorandum of understanding (MoU) with Unique Identification Authority of India (UIDAI), following which it will act as registrar for unique identification project 'Aadhar'.

Corporation Bank in September 2010 has signed a memorandum of understanding (MoU) with United India Insurance (UII), public sector non-life insurance major for distributing micro insurance and other rural insurance products through its business correspondents.

The Bank has one Subsidiary viz. CorpBank Securities formed as a Primary Dealer to deal in Government Securities. The Subsidiary has recorded impressive performance over the years. The Bank also has a Regional Rural Bank namely CHIKO Bank covering Kodagu and Chikmagalur districts in Karnataka.

Services offered

Personal Banking- Under this, it offers various products and services such saving account, loans, deposits, ATM facility, RTGS/NEFT facility, internet banking, demat services, etc.

NRI Banking- Besides various personal banking products, it also offers remittance services, consultancy services to its NRI Clients.

Corporates- To corporates, it offers various products and services such as corporate accounts, term finance, working capital loans, RTGS, NEFT, CMS,

Priority and SME- It also caters products and services to Priority and SME segment such as providing various kinds of products to meet their various business requirements.

Milestone

Corporation Bank was nationalised in the year 1980.

In 1997, it was the second public sector bank in the India to enter capital market; It IPO was over subscribed by 13 times.

Corporation Bank’s Lower Tier II bonds aggregating to Rs 500 crore were assigned 'CARE AAA' rating and its Upper Tier II/Perpetual Bonds issue of Rs 1,000 crore was also assigned 'CARE AAA' rating by Credit Analysis and Research.

Award

Banking Technology Awards 2009 for its efforts in implementing innovative technologies in its business initiatives under the auspices of the Indian Banks Association [IBA], Finacle and the Trade Fairs & Conference International [TFCI].

Best PSU Bank of the Year by Bloomberg UTV ‘Financial Leadership Awards 2011’

Ranked No.1 in India’s Most Customer Friendly Bank, a first ever Survey jointly conducted by Outlook Money and TNS.

Corporation Bank received the First Prize Under ‘National Award for Excellence in Lending to Micro Enterprises’ for the year 2010-11 from Ministry of Micro, Small and Medium Enterprises, Govt. of India.

Corporation Bank has bagged the Best Manpower Efficiency Award in Public Sector Bank Category, instituted by Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks’ Association (IBA) at FIBAC Banking Awards 2011.
• Financial Express - Ernst Young India's Best Banks Survey 2010-11 ranks Corporation Bank as Second Best Public Sector Bank
• SKOCH Financial Inclusion Award 2012 for SHG Initiatives instituted by SKOCH Consultancy Services Pvt. Ltd.
• Ranked “Number One Nationalised Bank 2010-11” at “FE – India’s Best Banks Awards”. The Best Banks Survey was conducted by Financial Express in association with Ernst & Young – the Knowledge partner for the survey.
• ‘Best Mid-Size Public Sector Bank’ Award in the CNBC-TV18 Best Bank and Financial Institution Awards presented by MCX for FY11
• First Prize under ''National Award for Excellence in Lending to Micro Enterprises'' for 2010-11 from Ministry of Micro, Small & Medium Enterprises, Govt. of India
• “Best Manpower Efficiency Award” by FICCI-IBA at FIBAC Banking Awards 2011
• Ranked No.1 in India’s Most Customer Friendly Bank, a first ever Survey jointly conducted by Outlook Money and TNS
• “Best PSU Bank of the Year” by Bloomberg UTV ‘Financial Leadership Awards 2011’
• “Best Financial Inclusion Initiative”, “Best Use of Technology in Training & eLearning Initiatives” Winner Awards & Runner Up Award - under the category “Best Online Bank” amongst PSBs in the Banking Technology Awards-2010.
• SKOCH Financial Inclusion Award 2011 - for Financial Inclusion initiatives
• Dalal Street Investment Journal [DSIJ] Public Sector Undertakings Awards 2010 - on the basis of study conducted by KPMG

•The Bank is ranked Number One under “National Awards for Excellence in MSE Lending” and Second under “National Awards for Excellence in Lending to Mirco Enterprises” for the year 2012-13 under Public Sector Banks from Ministry of Micro, Small and Medium Enterprises.

• “Number Two Public Sector Bank” at “FE – India’s Best Banks Awards”. The Best Banks Survey was conducted by Financial Express in association with Ernst & Young – the Knowledge partner for the survey.
• Best Mid Size Public Sector Bank (Commendation) Award at “India Best Banks and Financial Institutions Awards 2012” by CNBC-TV18 & MCX SX
• “Safest Banker” Award by 'The Sunday Standard FINWIZ 2012 – Best Bankers’ Award
• ‘SKOCH Financial Inclusion Award 2013’ for SHG Initiatives.
• “Caring Company Award” at World CSR Congress 2013 held at Mumbai on 18th February 2013.



Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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