Corporation Bank: Cmp Rs.181 http://www.corpbank.in
Book value: Rs.294.80 FV: 10 Dividend Yield= 5.8%
Trailing 12 earning=53.86 P/E=3.36- Limited exposure to sectors that have been hit by recent recession in world markets - real estate sector (Rs 800 Cr as on 30-9-2008) and textile sector around 5% exposure
- In this quarter on account of declining yields of bonds, the bank should be able to write back a major part of investment depreciation provisions made in Q1, positively impacting the profits.
- The bank has 981 branches, 15 extension counters and 975 ATMs to serve its clientele.
- Started about 102 years ago in 1906, with an initial capital of just Rs.5000, Corporation Bank is all set to cross Rs. One Lakh Crore mark in business this year.
- The Bank has many " firsts " to its credit - Cash Management Services, Gold Banking, m-Commerce, " Online " approvals for Educational loans, 100% CBS Compliance and more recently, its pioneering efforts to take the technology to the rural masses in remotest villages through low-cost branchless banking - Business Correspondent model.
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