Corporation Bank Opens First Ever Overseas Office in Dubai
Daijiworld Media Network
Pics; Sujay Bendur
Dubai, Sep 22: Corporation Bank opened its first ever overseas Representative Office in Dubai on Sep 22, 2008. The Opening ceremony was graced by B. Sambamurthy, Chairman & Managing Director of the Bank, H.E Saeed Abdullah Al-Hamiz of Central Bank of the UAE and Venu Rajamany, Consul General of India.
The representative office which is opened in the second floor of Torondo building, in Bur Dubai, and will represent Corporation Bank by providing contacts with Bank’s customers, correspondent Banks, Corporate and Indian expatriates as well as promoting its services in the local markets.
The office will be headed by Nagaraj Shetty, who has experience heading several Corp branches back home in Mangalore.
The representative office will provide customers with banking, financial and consultation services apart from marketing Bank’s retail products, life and non-life insurance products mutual funds etc. The representative office will market the products and services to NRIs, Joint Ventures as well as Corporates in UAE.
Customers of the Bank in India will be provided with information regarding business opportunities in the local markets here and promote investments in UAE. At the same time, the representative office will disseminate information in Dubai to entities that seek to do business in India.
Corporation Bank in India’s premier Government owned Bank with the customer trust for over 102 years. Established in Udupi, Karnataka, way back in 1906, Corporation Bank has a business of nearly Rs. 1000 Billion. It has a countrywide presence with over 2000 Service outlets in India, over 1000 branches and 1000 ATMs- with large presence in the States of Kerala, Goa, Karnataka, Gujarat and Maharastra. A financially strong and efficient Bank, it has an excellent tack record of earning uninterrupted profit since its inception. During the year 2007-08, the Bank clocked an all time high profit of Rs 7.3 billion and paid a dividend of 105 per cent.
Corporation Bank has many first to its credit, in its pursuit of new ways of reaching various segments of customers. It is the first Government owned Bank in India to bring 100 per cent of branches under Core Banking Solution, thus enabling its customers to Bank from anywhere. It is the first bank to start Gold Banking, M-Commerce, Electronic Funds Transfer through ATMs and Online approvals for education loan for professional courses.
For customer convenience with new age banking, the Bank offers varied range of innovative products and services such as International Debit Card, Internet banking, SMS Banking, KIOSK Banking, Various utility payment facilities etc. Corporation Bank customers can now avail of services at multi-delivery channels-Branch, ATMs, Mobiles, Internet and Merchant Establishments.
The Bank has various products offering tailor made to meet the individual credit needs of its customers such as home loans, vehicle loans, educational loans, mortgage loans etc. The Bank is also One-stop financial Shoppe, providing umbrella of financial services to the customers such as Life and Non-Life insurance, sale of mutual funds, gold banking, tax collection and demat services, so that its customers need not go beyond the bank.
The Bank has various deposit and loan schemes and Speed Remittance services for Non Resident Indians based in Gulf and Middle East. The Speed remittance facility is available at all the outlets of UAE Exchange Centre, Abu Dhabi and Kuwait, Oman International Exchange, Muscat, Bahrain Exchange Centre, Kuwait, Wall Street Exchange, UAE and Redha Al Ansari Exchange Establishment, Dubai.
The Bank has won several International and National accolades for its sound financials. Recently, the Bank won Three National Technology Awards for Excellence in IT. The Bank is also conferred with Award for Customer Relationship Management.
