CorpBank targets Rs 55,000 cr biz

The Mangalore-based Corporation Bank has set a target of doing a business of Rs 55,000 crore this financial year.

The Bank which has been ranked fourth in its overall performance and first among public sector banks by a business magazine is awaiting clearance to start an office at Dubai.

Eighty-seven per cent of the Bank's business is covered under Core Banking Solution (CBS) and by June this year the entire Bank's activities would be covered under CBS, said V K Chopra, chairman of the Bank.

The bank has paid an interim dividend of 35 per cent. The bank's capital adequacy ratio has come down to 14.9 per cent.