Corporation Bank turns 100
Mangalore: Corporation Bank has completed a hundred years' of operations. It now plans make a `strategic investment' in a bank.

On the eve of the bank's centenary celebrations, V.K. Chopra, chairman and managing director of the bank, said, "We are looking for a strategic investment. Whenever opportunity comes, we can do that." We have a strong capital base. At the end of December 2005, our CAR was 14.9 per cent. Even at this level, I think, ours is the only bank which has not relied on Tier II capital for maintaining the capital adequacy.

The bank's application for opening a representative office in Dubai is pending with the UAE authorities, after the bank got approval from the Reserve Bank of India in this regard.
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ABN Amro Bank invests 120 million euro in Indian subsidiary
New Delhi: ABN Amro Bank NV has infused 120 million euro in its Indian operations and the bank expects its capital adequacy ratio to rise from 10 to 11 per cent by this fiscal year end. The bank has attained RBI approval to open 4 branches in small cities this year and will also start retail brokerage services in India by June.

ABN, which has assets worth 856 billion euro spread over 60 countries, aims at sustaining 25 per cent growth in its Indian operations this fiscal as also next fiscal.

ABN Amro intends to grow organically in India as RBI does not permit foreign banks to buy more than 5 per cent stake annually in a domestic bank till 2009.
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