India’s Corporation Bank Branch in Dubai

India’s public sector Corporation Bank has opened its first ever overseas Representative branch in Dubai. The Representative branch was inaugurated on September 22 by Mr. Saeed Abdullah Al-Hamiz, Central Bank of the UAE.

The bank aims to convert this into a full-fledged branch in course of time.

The bank is planning to enlarge its presence in other parts of Middle East and open its offices in China and Europe shortly.

Corporation Bank, founded in 1906 in Udupi, Karnataka state, India, by a small group of philanthropists led by Khan Bahadur Haji Abdulla Haji Kasim Saheb Bahadur. The Bank is a Public Sector Unit with 57.17% of Share Capital held by the Government of India. The Bank’s Net Worth stood at Rs.3,054.92 crores as on 31 March 2005. [Source: wikipedia.org]

[Via news.webindia123.com]

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