Corp Bank donates Rs 50,000 to Seva Bharati and Abhaya Ashraya in Mangalore

Corp Bank Compassion Scheme gets 3.63 Lakh new accounts
By Neelima Shankar
Dec 10, 2007

Mangalore: The Corp Compassion Scheme started by Corporation Bank has been a huge success with 3.63 lakh new accounts being created during June 1 to July 31.

Under this scheme, the bank identifies various charitable institutions all over India to provide financial assistance to the weaker and underprivileged sections of the society. The bank had proposed to donate Rs. 10 to people from these sections of the society for every new account opened during the campaign period. The bank also donated Rs. 50,000 each to Seva Bharati and Abhaya Ashraya in Mangalore as a part of its corporate social responsibility.

Corporation Bank was established in 1906, and is considered as one of the better performing banks in the public sector. Government of India holds as much as 57.17% of the bank's share capital. The bank came out with its IPO in 1997 and has a net worth of Rs. 3,765.45 crore as on 31.03.2007. Manned by a dedicated staff of over 11000 employees, Corp Bank has one of the highest productivity levels among the public sector banks. The bank has achieved 100 percent computerization and provides high quality service to its customers.