CorpBank press release (MB)

Mangalore, Jul 6: Corporation Bank's 905th online ATM and core banking facility at its Kuttettur branch were inaugurated by Mangalore Refineries and Petrochemicals Ltd (MRPL) managing director R Rajamani recently.

Bank's chairman and managing director B Sambamurthy, executive director, general manager K Achutha Pai and others were present on the occasion.

The bank has plans to expand its branch network to 1,000 from the present number of 840 during the coming 16 months. Further, it proposes to cover all feasible branches under Core Banking facility during the next one year. Currently, 568 branches of the bank are under Core Banking, covering 88 per cent of the business of the Bank.

At present, the bank has a newtwork of 904 online ATMs. This is the largest amongst public sector bank, excluding State Bank of India. The bank has an exclusive international debit card facility branded 'CorpConvenience' with VISA arrangement and tie-up with other banks' ATM, giving access to its customers to over 10 lac ATMs worldwide bearing VISA logo. The bank has plans to add around 100 new ATMs by March 2007.

The bank has finalized a medium-term plan of reaching a total business level of 1 lac crore by March 2009. For the current financial year, the bank has set a goal Rs 70,000 crore to be achieved by March 31, 2007.