Corporation Bank to pay Rs 16.50 / share as dividend

Commending the bank’s achievements, Corporation Bank Chairman & Managing Director J M Garg said “Corporation Bank has been adjudged as one of the top 25 Companies in India by the Institute of Company Secretaries of India for the best corporate governance practices it follows.”  He added that it crossed Rs 1,50, 000 crore of Business to reach Rs 1,55,936 crore, thereby recording a 27.30 per cent growth during the period.

The net profit of the bank crossed Rs 1,000 crore for the first time and stood at Rs 1,170.25 crore at the close of the fiscal. Net worth of the Bank increased to Rs 5,775 crore from Rs 4,897 crore as on March 31, last year.

Meanwhile, the bank raised capital funds aggregating to Rs 2,050 crore (Rs 500 crore Tier I Perpetual Bonds and Rs 1,550 crore Tier II Bonds).  During the previous financial year Corporation Bank opened 101 Branches, 48 ATMs and 411 Branchless Banking Units.
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