July 27, 2009

Corporation Bank at its 12th annual general meeting held here on Saturday approved a final dividend of Rs 8 per share taking the total dividend paid to Rs. 12.50 including the interim dividend of Rs 4.50, on a paid up equity share of Rs 10. J M Garg, chairman and managing director of the Bank, in his address to the shareholders, dwelt on performance of the bank.Garg said overall performance of the Bank in the 2009-09 was commendable.

The bank has entered the league of Banks with total business of above Rs 1-lakh crore. The total business grew by 29.47% recording a growth of Rs 27,886 crore to reach Rs1.22-lakh crore in absolute terms. The aggregate deposits increased to Rs 73,984 crore from Rs 55,424 crore as on March 31, a growth rate of 33.49%.The net NPA to net advances has been brought down to the level of 0.29%, which is one of the best in the industry.