Financial Highlights FY 2014-15
Corporation Bank was founded in the Year 1906 in Udupi a small town in South India Nationalized in the year 1980 and went public in 1998 The Bank holds a unique record of posting profits right from inception Uninterrupted dividend payment track record since inception A Mid sized Bank which is a leader in Technology Adoption and financial inclusion Founder: Shri Khan Bahadur Haji Abdullah Haji Kasim Saheb Bahadur
Business growth over last decade Deposits Advances Total Business Total Business grew more than 6 times in 10 years 284722 330479 344412 236611 203598 193393 199346 155936 122496 116748 94610 92734 86850 72307 73984 63202 56838 55424 48512 42357 39186 32876 29950 23962 136142 100469 166005 118717 137086 145066 FY2006 +11K FY2007 +16K FY2008 +22K FY2009 +28K FY2010 +33K FY2011 +48K FY2012 +33K FY2013 +48K FY2014 +46K FY2015+14K 3
Net Worth over last decade 9565.69 10085.00 10484.00 7137.81 8275.93 3374.89 3765.45 4228.51 4896.51 5774.87 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 4
5 Profit growth over last decade Operating Profit Net Profit 2856 3037 3039 3027 2554 2070 1797 954 444 1140 536 1251 735 893 1170 1413 1506 1435 562 584 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Branch Network Mar-14 Mar-15 Branches 2021 2298 ATM 2264 2933 Branchless Banking Units 4332 4685 Total 8617 9916 Category 31.03.15 % share Rural 576 25% Semi Urban 761 33% Urban 489 21% Metro 472 21% Total Branches 2298 100% BRANCH SEGMENTATION AS ON 31.03.2015 During the financial year 2014-15, the Bank opened 277 Branches and 669 ATMs across the country. 21% 21% 25% 33% The Bank has 2 representative offices at Dubai & HongKong RURAL URBAN SEMI URBAN METRO
Branch /ATM Network - expanding over last decade Branch ATM 2021 2298 2933 835 901 981 1054 1155 1361 1500 1707 901 929 957 1032 1145 1187 1274 1425 2264 Branch ATM The Bank has opened 277 Branches & 669 ATMs during the current financial year 7
Branch Network Distribution as at 31.03.2015 CHANDIGARH 5/5 HP 15/18 PUNJAB 86/84 J&K 4/3 DELHI 104/190 UTTARAKHAND 27/34 NAGALAND 1/1 HARYANA 92/146 DADRA 1/1 DAMAN 1/1 GOA 56/67 GUJARATH 139/140 KARNATAKA 506/823 RAJASTHAN 75/76 MADHYAPRADESH 61/82 MAHARASHTRA 197/241 ANDHRA 145/156 UP 183/188 BIHAR 38/33 ORISSA 39/40 P CHERY 3/3 SIKKIM 1/1 WB 57/69 JHARKHAND 13/13 ASSAM 13/13 CHATTISGARH 28/25 TELANGANA 83/89 TRIPURA 2/2 MEGHALAYA 2/1 BRANCHES 2298 ATMs 2933 INCREASING REACH 27 States and 3 U.T.s covered 2 Rep offices at Dubai & HongKong KERALA 113/136 TN 213/253
Share holding pattern 31.03.2015 63.33% 22.54% 5.88% 2.26% 0.33% 5.66% Government of India 63.33% LIC of India 22.54% Resident Individuals 5.66% NRI 0.33% FIs, MFs, Banks & Corporate bodies 5.88% FII & Overseas body corporates 2.26% TOP SHARES HOLDERS OTHER THAN GOVT. OF INDIA & LIC OF INDIA HOLDING % TO EQUITY HDFC TRUSTEE COMPANY LIMITED - HDFC PRUDENCE FUND 12197060 1.46 GENERAL INSURANCE CORPORATION OF INDIA 5298050 0.63 RELIANCE CAPITAL TRUSTEE CO LTD-A/C RELIANCE MID & SMALL CAP FUND 3619105 0.43 HDFC STANDARD LIFE INSURANCE COMPANY LIMITED 2577550 0.31 THE NEW INDIA ASSURANCE COMPANY LIMITED 2415090 0.29 VANGUARD EMERGING MARKETS STOCK INDEX FUND, 2410755 0.29 HDFC SMALL & MIDCAP FUND 2273000 0.27 LSV EMERGING MARKETS EQUITY FUND LP 2213500 0.26 UNITED INDIA INSURANCE COMPANY LIMITED 2137770 0.26 DIMENSIONAL EMERGING MARKETS VALUE FUND 1942085 0.23 9
Business Parameters Parameters As at 31.03.2014 As at 31.12.2014 As at 31.03.2015 Growth Mar 15/Mar 14 Abs % Growth Mar 15/Dec 14 Abs % Total Business 330,479 327,655 344,412 13,933 4.22% 16,757 5.11% Deposits 193,393 187,707 199,346 5,953 3.08% 11,639 6.20% Average Deposits 164,824 184,549 184,520 19,696 11.95% -29-0.02% Advances 137,086 139,947 145,066 7,980 5.82% 5,119 3.66% Average Advances 117,040 132,924 133,802 16,762 14.32% 878 0.66% Investments 66,191 63,126 63,412-2,779-4.20% 286 0.45% Average Investments 63,348 63,342 62,749-599 -0.95% -593-0.94% Working Funds 222,048 219,112 225,993 3,945 1.78% 6,881 3.14% Average Working Funds 195,005 210,079 210,960 15,955 8.18% 881 0.42% NDTL 184,762 189,294 191,662 6,900 3.73% 2,368 1.25% 10
Income QUARTER FY 2014-15 (12 MONTHS) PARTICULARS Mar-14 3M Dec -14 3M Mar-15 3M Growth (%) (Q4/Q4) Mar 2014 12M Mar 2015 12M Growth (%) (M 15/M 14) Total Income Interest Income a) Advances b) Investments c) Others Non-interest Income 5,032.62 5,209.55 5385.28 7.01% 4,644.35 4,881.27 4881.64 5.11% 3,414.64 3,713.59 3722.63 9.02% 1,096.82 1,033.39 1002.43-8.61% 132.89 134.29 156.58 17.83% 388.26 328.28 503.64 29.72% 19,606.29 21,038.91 7.31% 17,958.57 19,556.44 8.90% 13,215.97 14,805.34 12.03% 4,242.20 4,165.83-1.80% 500.40 585.27 16.96% 1,647.72 1,482.47-10.03% Of which : Core Area Non core area 313.22 75.04 260.62 67.66 336.22 167.42 7.34% 123.11% 1,077.39 570.33 1,135.10 347.37 5.36% -39.09% 11
Non Interest Income Core Areas QUARTER FY 2014-15 (12 Months) PARTICULARS Mar-14 3M Dec -14 3M Mar -15 3M Growth (%) (Q4/Q4) Mar-14 12M Mar-15 12M Growth (%) (M 15/M 14) Non-interest income from core Areas: Of which: Commission on LC Commission on BG Processing Fee Service Charges Commission on Bills /DDs /Other items Other fee income 313.22 260.62 336.22 7.34% 40.18 35.94 36.28-9.71% 39.69 38.59 43.23 8.92% 96.41 49.74 105.09 9.00% 33.32 20.55 39.80 19.45% 28.11 23.35 24.67-12.24% 75.51 92.45 87.15 15.42% 1,077.39 1,135.10 5.36% 160.06 153.71-3.97% 150.72 154.66 2.61% 282.13 273.15-3.18% 97.72 115.53 18.23% 103.35 95.57-7.53% 283.41 342.48 20.84% 12
Non Interest Income Non Core Areas QUARTER FY 2014-15 [12 Months] PARTICULARS Mar -14 3M Dec -14 3M Mar -15 3M Growth (%) (Q4/Q4) Mar-14 12M Mar-15 12M Growth (%) (12M/12M) Non-interest income from Non-core Areas: Of which: Profit on Exchange Transactions Profit on Sale of Investments 75.04 67.66 167.42 123.11% 23.81 24.13 29.37 23.35% 26.35 28.60 57.47 118.10% 570.33 347.37-39.09% 101.46 101.48 0.02% 338.71 104.72-69.08% Dividend on Shares 0.73 0.73 15.23 -- 10.19 27.91 173.90% Cash Management Services Bad Debts Recovery in PWO accounts 4.74 3.24 4.15-12.45% 19.41 10.96 61.20 215.22% 17.63 14.75-16.35% 102.34 98.51-3.74% 13
Expenses QUARTER FY 2014-15 (12 months) PARTICULARS Mar - 14 3M Dec -14 3M Mar - 15 3M Growth (%) (Q4/Q4) Mar -14 12M Mar-15 12M Growth (%) (M 15/M 15) Total Expenses 4,396.07 4,483.01 4419.91 0.54% 16,566.89 18011.46 8.72% Interest Expenses 3,736.87 3,852.26 3767.65 0.82% 14,174.88 15486.10 9.25% a) Interest on Deposits 3,515.22 3,663.81 3556.27 1.17% 13,242.60 14701.53 11.02% b) Interest on Borrowings 221.65 188.45 211.38-4.63% 932.28 784.57-15.84% Operating Expenses 659.20 630.75 652.26-1.05% 2392.01 2525.36 5.57% a) Salaries b) Other Operating Expenses 328.94 293.77 307.45-6.53% 330.26 336.98 344.81 4.41% 1190.24 1182.22-0.67% 1,201.77 1343.14 11.76% 14
NET INTEREST INCOME (` in crore) Mar-14 [Q4] Dec-14 [Q3] 12M FY2013-14 12M FY2014-15 Mar-15 [Q4] 907.48 1029.01 1113.99 3783.69 4070.34 Growth Mar 15 (Q4)/Dec 14(Q3) 8.26% & Mar 15(Q4)/ Mar 14(Q4) 22.76% Growth FY 2014-15 / FY 2013-14 7.58% 15
PROVISIONS QUARTER FY 2014-15 (12 Months) PARTICULARS Mar-14 3M Dec-14 3M Mar -15 3M Growth (%) (Q4/Q4) Mar -14 12M Mar-15 12M Growth (%) (M 15/M 15) Provisions (Net) 594.98 579.33 920.30 54.68% 2477.68 2443.19-1.39% a. For Bad & Doubt Debts 552.71 453.50 514.67-6.88% 1438.11 1835.09 27.60% b. On Standard Assets 82.00-7.82 90.00 9.76% 224.00 139.00-37.95% c. Investment Depreciation d. Income Tax e. Others: 77.97-27.92-0.24-100.31% -229.55-66.87-6.20-97.30% 111.85 228.44 322.07 187.95% 537.32-219.34-140.82% -320.03-108.80-66.00% 598.28 797.24 33.26% 16
PROFITS Mar-14 (Q4) Jun-14 (Q1) Sept-14 (Q2) Dec-14 (Q3) Mar-15 (Q4) Growth Q4/Q4 ABS % Growth Q4/Q3 ABS % Operating Profit 636.55 697.55 637.99 726.54 965.37 328.82 51.66% 238.83 32.87% Net Profit 41.57 231.47 160.51 147.21 45.07 3.50 8.42% -102.14-69.38% Mar-13 (12 M) Mar-14 (12 M) Mar-15 (12 M) Growth (abs) 12M /12M Growth % (Y-O-Y) 12M/12M Operating Profit 3,037.00 3,039.40 3,027.45-11.95-0.39% Net Profit 1,434.67 561.72 584.26 22.54 4.01% 17
Composition of Average Deposits 18 AVERAGES As at 31.03.13 As at 31.03.14 As at 31.03.15 Growth Mar 15/Mar 14 Abs % Growth Mar 14/Mar 13 Abs % Average CASA 25,442 28,410 31,867 3,457 12.17% 2,968 11.67% Avg. Current Deposits Avg. Savings Deposits 7,520 8,161 8,602 441 5.40% 641 8.52% 17,922 20,249 23,265 3,016 14.89% 2,327 12.98% Avg. Term Deposits 111,276 136,414 152,653 16,239 11.90% 25,138 22.59% Average Deposits 136,718 164,824 184,521 19,697 11.95% 28,106 20.56% Share of Avg. CASA to Avg. Deposits 18.61% 17.24% 17.27% Avg. CD Ratio 71.87% 71.01% 72.51%
Composition of Advances Parameter Agriculture (excluding RIDF) Balance O/S As at Growth Mar 15/ Mar 14 Growth Mar 14/ Mar 13 31.03.13 31.03.14 31.03.15 Abs % Abs % O/s as % to NBC as at Mar 15 9,466 13,144 15827 2,683 20.41% 3,678 38.85% 10.91% MSME 19,518 24,839 27176 2,337 9.41% 5,321 27.26% 18.73% - of which Micro & Small Enterprises 18,555 24,058 25,981 1,923 7.99% 5,503 29.66% 17.91% Large Industries 54,135 60,295 63672 3,377 5.60% 6,160 11.38% 43.89% Corp Schemes 16,355 21,193 23,751 2,558 12.07% 4,838 29.58% 16.37% Wholesale Trade 1,186 1,254 1809 555 44.26% 68 5.73% 1.25% Food Credit 2,199 2,367 2202-165 -6.97% 168 7.64% 1.52% Commercial Real Estate 3,060 3,560 4337 777 21.83% 500 16.34% 2.99% Capital Market 771 740 635-105 -14.19% -31-4.02% 0.44% 19
Priority Sector Lending Particulars Mar-13 Mar-14 Mar-15 Growth Mar 15 / Mar 14 Growth Mar 14 / Mar 13 Agriculture * % to ANBC 9,466 9.42% 13,144 11.07% 19675 13.56% 49.69% 38.86% Direct Agriculture % to ANBC 6707 6.68% 9,968 8.40% 13,144 9.06% 31.86% 48.61% Micro & Small Enterprises % to ANBC 18,555 18.47% 24,058 20.27% 25981 17.90% 7.99% 29.66% Other Priority * % to ANBC 9,934 9.89% 11,358 9.57% 16315 8.17% 43.64% 14.33% Total Priority Sector Deployment * % to ANBC 37,955 37.78% 48,560 40.91% 61,971 42.70% 27.62% 27.94% * Includes RIDF investment 20
Industry wise Credit Exposure Mar-13 Mar-14 Mar-15 Growth % M15/M14 y-o-y Growth % M14/M13 y-o-y % to NBC as at Mar 15 Infrastructure [Breakup in next slide] 19,785 20,749 23,764 14.53% 4.87% 16.38% Textiles 4,918 5,822 5,988 2.85% 18.38% 4.13% Petroleum 1,047 1,257 981-21.96% 20.06% 0.68% Engineering 4,192 4,323 4,721 9.21% 3.13% 3.25% Gem & Jewellery 3,208 4,131 3,919-5.13% 28.77% 2.70% Chemicals & Pharma 4,109 4,039 4,269 5.69% -1.70% 2.94% Iron & Steel 3,926 4,544 4,528-0.35% 15.74% 3.12% Metal & Metal Products 1,830 1,636 1,335-18.40% -10.60% 0.92% Food Processing 2,787 4,018 4,341 8.04% 44.17% 2.99% Cement 1,148 1,258 1,331 5.80% 9.58% 0.92% Others 15,820 20,500 23,060 12.49% 29.58% 15.90% Total 62,770 72,277 78,237 8.25% 15.15% 53.93% 21
Industry wise Credit Exposure Contd. INFRASTRUCTURE BREAK UP Mar-13 Mar-14 Mar-15 % growth Mar-15 / Mar-14 % growth Mar-14 / Mar-13 % to NBC Mar-15 Power 11,624 11,917 13,955 17.10% 2.52% 9.62% Telecommunication 3,599 2,959 3255 10.00% -17.78% 2.24% Roads & Ports 3,105 4,263 4656 9.22% 37.29% 3.21% Hospitals 324 567 458-19.22% 75.00% 0.32% Educational Institutions 995 984 717-27.13% -1.11% 0.49% Others* 138 59 723 1125.42% -57.25% 0.50% Total 19,785 20,749 23,764 14.53% 4.87% 16.38% *Others include Info Park, SEZ, Construction relating to projects involving agro-processing / storage of agro products, etc. 22
Exposure to Sensitive Sectors Sector Mar-13 Mar-14 Mar-15 Growth % Mar-15/ Mar-14 Growth % Mar-14 / Mar-13 % to NBC as at Mar-15 a. Real Estate 15,063 17,981 20,219 34.23% 19.37% 13.94% Housing - Direct 8,176 10,003 11,525 40.96% 22.35% 7.94% Housing - Indirect 3,827 4,418 4,357 13.85% 15.44% 3.00% Comm. Real Estate 3,060 3,560 4,338 41.76% 16.34% 2.99% Of Comm. Real Estate: Corp Rental 487 455 449-7.80% -6.57% 0.31% Builders 1,786 1,925 2,808 57.22% 7.78% 1.94% Others 787 1,180 1,080 37.23% 49.94% 0.74% b. Capital Market * 771 740 635-17.64% -4.02% 6.06% Credit ** 176 184 261 48.30% 4.55% 2.49% Investment (Equity) 595 556 374-37.14% -6.55% 3.57% c. Commodities 1,531 2,153 3,722 143.11% 40.63% 2.57% Total 17,365 20,874 24,576 41.53% 20.21% 16.94% d. NBFC 4,824 6,024 8,319 72.45% 24.88% 5.73% - of which M F I 756 762 454-39.95% 0.79% 0.31% * Capital market as % to Net worth of March 2015 **Guarantees on behalf of brokers Rs.161 crore, advances to share brokers Rs.5 crore 23
Movement of NPAs 31.03.14 12M 31.12.14 9M Mar-15 Q4 31.03.15 12M Gross NPAs at the beginning of the year 2,048.23 4,736.79 6,932.08 4,736.79 Add: Additions 3,555.73 3,203.25 535.64 3,738.89 Less: Recoveries Up-gradation write off Gross NPA at the end of the period 228.31 176.12 462.74 239.93 236.46 531.57 78.36 35.20 247.48 318.29 271.66 779.05 4,736.79 6,932.08 7,106.68 7,106.68 Gross Credit 138,643 142,107-147,708 Gross NPA % 3.42% 4.88% - 4.81% Net NPA 3,180.56 4,568.14-4464.98 Net NPA % 2.32% 3.27% - 3.08% PCR with respect to Gross NPA 52.90% 52.47% - 55.34% PCR : Provision Coverage Ratio. 24
Sector wise NPAs SECTOR A/cs Mar-14 [12M] Amt % of NPA to Exp. NPA A/cs Mar-15 [12M] Amt % of NPA to Exp. PRIORITY AGRICULTURE 28158 414.94 3.16 29005 415.50 2.63 SME 8348 1071.13 4.50 11534 1611.96 6.20 OTHER PRIORITY 12853 243.65 2.15 13647 286.29 3.25 TOTAL 49359 1729.72 3.58 54186 2313.75 4.57 NON- PRIORITY LARGE INDUSTRY 98 2401.71 3.98 125 4066.57 6.27 WHOLESALE TRADE 24 138.84 11.07 22 117.07 6.47 OTHERS 8890 466.52 1.63 9639 609.29 2.00 TOTAL 9012 3007.07 3.33 9786 4792.93 4.94 GRAND TOTAL 58371 4736.79 3.42 63972 7106.68 4.81 25
26 Sector wise Delinquency SECTOR A/cs Mar-14 [12M] Amt DELINQUENCY % of Dlq. to Exp. A/cs Mar-15 [12M] Amt % of Dlq. to Exp. PRIORITY AGRICULTURE 10957 176.67 1.34 10129 140.71 0.89 SME 3682 847.79 3.56 3619 641.26 2.47 OTHER PRIORITY 6592 156.16 1.37 5518 139.88 1.59 TOTAL 21231 1180.61 2.44 19266 921.85 1.82 NON- PRIORITY LARGE INDUSTRY 34 1921.89 3.19 44 2515.21 3.87 WHOLESALE TRADE 9 92.84 7.40 6 87.65 4.84 OTHERS 4034 315.11 1.10 3801 214.18 0.70 TOTAL 4077 2329.85 2.59 3851 2817.04 2.90 GRAND TOTAL 25308 3510.46 2.54 23117 3738.89 2.53
Restructured Accounts Amount Restructured from 01.01.2015 to 31.03.2015 1,760.55 Total Restructured during financial year 4,869.04 Outstanding Position as at 31.03.2015 Standard Restructured Accounts which attract higher provisioning O/S Balance 10,561.42 % of Standard Restructured A/cs to NBC 7.28% 27
CAPITAL ADEQUACY 28 Under Basel III Basel II 31-Mar-14 31-Mar-15 31-Mar-15 TIER II 3.50% TIER II 3.04% TIER II 3.84% TIER II 3.52% Risk Weighted Assets 130190 139,536 139,258 Total Capital 15157 15,476 16,427 Tier I Capital 10593 11,232 11,530 TIER I 8.14% TIER I 8.05% TIER I 8.37% TIER I 8.28% MAR-14 MAR-15 Mar-14 Mar-15 BASEL III BASEL II Tier II Capital 4564 4,244 4,897 C R A R 11.64% 11.09% 11.80% Tier I Of which : CET I 8.14% 7.63% 8.05% 7.34% 8.28% Tier II 3.50% 3.04% 3.52% Mar-13 Mar-14 Mar-15 Net Worth 9,566 10,085 10,484
KEY RATIOS (annualised) EARNING RATIOS Mar-14 (Q4) Dec-14 (Q3) Mar-15 (Q4) Mar-14 (FY) Mar-15 (FY) a Cost of Deposits 8.08% 7.96% 7.71% 8.03% 7.97% b Cost of Funds 7.17% 7.35% 7.06% 7.27% 7.34% c Yield on Advances 11.00% 11.05% 10.91% 11.29% 11.07% d Yield on Investments 7.80% 7.87% 7.88% 7.76% 7.86% e Yield on Funds 8.91% 9.31% 9.14% 9.21% 9.27% f Net Interest Margin 1.91% 2.09% 2.26% 2.10% 2.07% 29
KEY RATIOS Earning / Profitability Ratios (annualised) Mar-14 (FY) Mar-15 (FY) a. Cost to Income Ratio 44.04% 45.48% i) Staff Cost to Income Ratio 21.91% 21.29% ii) Other Operating Cost to Income Ratio 22.13% 24.19% b. Net Profit to Total income 2.86% 2.78% c. Return on Assets (%) 0.29% 0.28% d. Return on Equity (%) (Net Profit / Net Worth) 5.72% 5.68% e Earning per Share [`] 7.15 6.97% f Book Value per share [`] 120.39 125.16 The Face value of Bank s share was split from Rs.10-/ to Rs.2/- w.e.f. 22.01.2015. Accordingly the EPS and BVPS have been computed and figures of previous year are also shown at the reduced share value for comparison purpose 30
PRODUCTIVITY RATIOS Ratios Mar-14 (FY) Mar-15 (FY) (` in lakhs) a. Business per Employee 1933.31 1913.51 b. Net Profit per Employee * 3.29 3.25 c. Net Profit per Branch * 27.79 25.42 d. Avg. Business per Branch 13946.76 13852.13 *Annualised 31
Financial Inclusion Branchless Banking & PMJDY: Branchless Banking operational in 4,685 locations across India which are being serviced by 1226 Bank Mitras. The Bank has reached a level of 37.63 lakhs Basic Saving Bank Deposit Accounts (BSBDA) with a balance of Rs.202 crore as at 31.03.2015. Total number of 2291 villages were allocated to the Bank under PMJDY and 883 sub service areas are formed out of these villages. 951 wards in urban area has been allocated under PMJDY. The Bank, has opened 21,18,067 accounts under PMJDY (10,50,345 Rural & 10,67,722 urban) and the balance in these accounts is Rs. 449.52 Crore as on 31.03.2015. The average balance in the non-zero balance accounts is Rs. 3,116/- per account as against the national average of Rs. 2,495/-. Out of the 21,18,067 accounts opened under PMJDY, RuPay card has been issued to 20,53,354 i.e. 97% account holders. Implementation of Social Security Schemes: Government of India had launched Three Social Security Schemes viz. PMJJBY, PMSBY and APY schemes. Our Bank has given a target of mobilisation of at least 10 lakhs enrolments by the launch date of 09/05/2015. As against the given target our Bank has mobilized 13.24 lakhs enrolments by active participation. 32
Information Technology Initiatives All units under CBS 100% of branches/offices under Core Banking The Bank has operationalised and networked 2933 ATMs, across the country inclusive of 9 Biometric ATMs. Net Banking facility is enabled for both Retail and Corporate customers using a robust, scalable MVC module with many add on features. This facility is being used by more than 8.00 lakh users and services are available through Android phones, IOS Phones, Tablets and ipads. Mobile Banking (now available on ipad /iphone /Android devices also) and SMS Banking operational with many value added services and is being used by more than 13 lakh users E-passbook facility and Corp Global Card a prepaid Forex travel card has been launched 102 E-lobbies across the country are operational and offering services like Cash withdrawal, Cash & Cheque deposit and Passbook printing E-Stamping system launched in Delhi, Bangalore & Mangalore The Bank has planned to migrate to a new and contemporary Core Banking Solution and the process is underway. E-Payment of State Taxes has been enabled through Net Banking in 10 states. 33
Information Technology Initiatives epassbook A versatile epassbook was introduced by the Bank. It is a complete valet of information on banking transactions virtually at the fingertips of the customer 24*7. It encompass a host of value-additions like Holiday Calendar, personal expenses tracker (outside normal banking transactions) and information in local languages [Tamil, Malayalam, Kannada and Telugu] besides Hindi & English. Information is available in both online and offline mode. TABLET BANKING As an innovative technology driven initiative, Tablet Banking was introduced, where Bank reached out to the customer for opening of accounts. All the mandatory details including photographs are captured in digital format and updated in the CBS via a secured media. On successful opening of account in the system, all the customerdeliverables are served at client s place. MISSED CALL FACILITY This is a value addition offered free of cost to the customers who have availed our SMS Banking facility. Just by making a missed call to a predefined number, the customer receives the current balance available in his primary account by way of a SMS to his registered mobile number. This facility is available both in English and Hindi. This initiative has obviated the necessity of the customer to visit the branch for balance enquiry. 34
Awards / Recognition Corporation Bank was awarded SKOCH Achiever Award for National SME enablement at New Delhi on 21 st March, 2015. Shri. S R Bansal, Chairman & Managing Director of the Bank received the award from Shri. Jayant Sinha, Hon ble Minister of State for Finance, Govt. of India..
Awards / Recognition Corporation Bank has bagged MSME Banking Excellence Awards 2014 instituted by Chamber of Indian Micro Small & Medium Enterprises. The Bank has bagged two awards under the categories Best MSME Bank Award for Other Bank (Winner) and Best Bank Award (Runner Up). The Award was received by Shri S R Bansal, Chairman & Managing Director of the Bank
New Initiatives Shri. S.K. Roy, Chairman of LIC of India (6 th from Left), and Shri. S.R. Bansal, CMD of Corporation Bank (7 th from left) with MoU signed for implementation of Pradhan Mantri Jeevan Jyoti Bima Yojana at the Head Office of Corporation Bank in Mangalore, Karnataka on 30 th March 2015.
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