Mumbai, Dec.21: Corporation Bank has been adjudged as the "Best Bank Mid-Size 2009" by BusinessWorld and PricewaterhouseCoopers Survey. The Award was received by Shri J.M.Garg, Chairman & Managing Director of the Bank from Hon’ble Union Finance Minister Shri Pranab Mukherjee at an exclusive award ceremony held in Mumbai.
Corporation Bank bagged the Best Mid-Sized Bank Award for the year 2009 from out of five Banks nominated for this Award. Corporation Bank scored highly on most of the financial parameters used to analyse the banks. The Bank has solid quality assets and lower non-performing loans (NPLs) which is one of the best amongst its peers. The Bank also has the lowest operational costs amongst its peers. Speaking on the occasion Shri J.M.Garg, Chairman & Managing Director said “the Bank has imbibed a performance-oriented work culture.
The Bank has managed higher business volumes with marginal increase in staff by leveraging technology, which in turn has enabled us to bring down the cost-to-income ratio". Quality assets have also been the prime differentiator for the Bank.