1.  It is with immense pleasure I present before you the Annual Report
 of the Bank for the year 2010-11. On this occasion I am happy to share
 with you in brief, the Economic Scenario of the Country and salient
 features of your Banks Performance during the last one year.
 
 2.  Economic Scenario
 
 2.1 During 2010-11, Indian economy registered a growth of 8.5% compared
 to a growth of 8.0% achieved in the financial year 2009-10. The
 agriculture sector has shown a good growth of 6.6% in 2010-11 as
 against previous year growth of 0.4%.
 
 2.2 The financial year 2010-11 started with a double digit WPI headline
 inflation of 11% in April 2010. Initially driven by food and fuel
 prices, inflation became more generalized as the year progressed. High
 prices of vegetables and manufactured items drove the headline
 inflation in March 2011 to 8.98%.
 
 2.3 The Index of Industrial Production (IIP), during financial year
 2010-11, registered a growth of 7.8%, compared to a growth of 10.5% in
 the corresponding period of the previous year. It was the foreign
 trade, which gave good performance. Exceeding all expectations, the
 countrys merchandise exports registered an all-time high annual growth
 rate of 37.5% in 2010-11, while the imports registered a growth of
 21.6%.
 
 2.4 On the banking front, during Financial Year 2010-11, the aggregate
 deposits of Scheduled Commercial Banks (SCBs) as on 25th March 2011,
 increased by 15.8% compared to 17.2% recorded in the previous year.
 Bank credit grew by 21.4%, exceeding RBIs projected non-food credit
 growth target of 20% for Financial Year 2010-11. Broad money (M3) grew
 by 16.0% compared to 17.1% recorded in the corresponding previous year
 
 2.5 The growth for the current Financial Year 2011-12 is expected to
 moderate due to higher inflationary pressures and high level of
 interest rates which may further get augmented due to slow down in the
 capital expansion plans of corporates due to higher borrowing cost. The
 uncertainty about energy and commodity prices may further strain the
 price situation in the economy.
 
 2.6 During 2010-11, your Bank has done exceedingly well.  The Bank has
 crossed a figure of Rs 2,00,000 crore in total business for the year
 ended March 2011, creating a milestone for the Bank. The Bank could
 register a business growth of over 30%. As against the industry growth
 of 16% in deposits, the Bank registered a growth of 26% and credit grew
 at over 37% against the system growth of 21%.
 
 2.7 Besides growing at this wonderful pace in business expansion, the
 Bank has continued its emphasis on financial inclusion, customer
 service and corporate social responsibility initiatives. As recognition
 to these efforts, the Bank received number of awards, accolades and
 recognition in the field of overall business, financial inclusion, IT
 and Customer Service, showing our strength and performance across the
 industry.
 
 3.  Performance Highlights
 
 Your Bank has recorded a spectacular performance for the just concluded
 financial year by registering a marked improvement in many spheres. The
 highlights of the performance are set out herein below for your
 information.
 
 3.1 Business growth:
 
 For the first time, your Bank has created a landmark by crossing Total
 Business figure of Rupees Two lakh crore.  The Business of the Bank has
 doubled in three years span and grown 8 times in 10 years.
 
 As on 31.3.2011, the Total Business of the Bank reached a level of Rs.
 2,03,598 crore from Rs.1,55,936 crore recorded as on 31.03.2010,
 registering a growth of 30.56%.
 
 The Total Deposits surged to Rs.1,16,748 crore at a growth rate of 25.90%
 and the advances reached Rs.86,850 crore, registering a growth of 37.42%
 
 Investments grew to Rs.43,453 crore from Rs.34,523 crore during the
 previous year, registering a growth rate of 25.87%.
 
 3.2 Profitability
 
 Operating Profit of the Bank has grown by Rs.485.67 crore at a growth
 rate of 22.73% to reach Rs.2,622.40 crore.
 
 Excluding the provision towards 2nd option for Pension scheme of
 employees, the Operating profit has grown by 31.38%.
 
 Net profit has grown by 20.77% over the last years figure and stood at
 Rs.1,413.27 crore.
 
 Excluding the provision towards 2nd option scheme of retired/existing
 employees, the Net profit has recorded a growth of 31.31%.
 
 3.3 CRAR of the Bank under Basel II stood at a comfortable level of
 14.11%
 
 Net worth of the Bank stood at Rs. 7,138 crore, recording a growth of
 23.60%
 
 Return on Equity [ROE] works out to 20.70% & ROA works out to 1.21 %
 
 Earnings per Share rose to Rs.98.50 and the Book Value per share
 increased to Rs.497.62.
 
 Net Interest income (NII) increased by 54.45% to Rs.2,939.74 crore - over
 the previous years figure. Net Interest Margin (NIM) stood at 2.52%
 
 3.4 The Gross NPA decreased to 0.91% and Net NPA stood at 0.46% Cost to
 Income ratio stood at 38.50%
 
 The Staff Productivity has recorded a marked improvement. While,
 Business per employee moved up from Rs.12.69 crore as of March 2010 to
 Rs.15.73 crore as at March 2011, Net Profit per employee went up from
 Rs.9.52 lakhs to Rs.10.92 lakhs during the same period.
 
 The Bank firmly believes that bringing in new clients and nurturing the
 relationship with existing clients will only help in getting new and
 additional business to the Bank.  During the year, the clientele base
 of the Bank increased to 122.01 lakhs as on March 2011 from 103.71
 lakhs as at March 2010.
 
 3.5 Service Outlets : Banks service outlets crossed 5000
 mark during FY2011 to reach 5111 units comprising of 1361 Branches,
 1250 ATMs & 2500 Branchless Banking Units. During the year, the Bank
 opened 206 Branches, 105 ATMs and 1300 Branchless Banking Units.
 
 3.6 Dividend
 
 Taking into consideration the strong financial results, the Board of
 Directors of your Bank has recommended an all time high dividend of
 Rs.20/- per equity share of Rs.10/- each for the year 2010-11.
 
 4.  New Initiatives
 
 Your Bank has taken the following new and challenging initiatives to be
 at the forefront among the Banking sector:
 
 - The Bank has been setting standards in the area of Financial
 Inclusion. The Bank has completed the Financial Inclusion target
 scheduled for 31.03.2012 by 31st December 2010 itself (i.e. 15 months
 ahead of the scheduled date i.e. 31.03.2012) and operationalised
 banking services in all the 334 locations allocated by various SLBCs-
 at 13 locations by way of Branch Model and at the remaining 321
 locations by way of Business Correspondent model.
 
 - To expand the reach of the Bank and to have effective monitoring and
 control mechanism, 12 New Zones across the country have been created
 for making branches more exclusive for monitoring.
 
 - New Verticals in the form of Corporate, Mid Corporate, SME and
 Recovery have been created for enhancing the effciency of operation and
 control.
 
 - The Bank has launched e-Kanike (e-Donation) service through its
 e-payment gateway enabling devotees to send their donations through
 internet to Shri Kshetra Dharmastala temple.
 
 - The Bank has also launched a mobile based valet for Retail payment
 called CorpMcash.
 
 - Bank in collaboration with Commonwealth Secretariat proposes to hold
 Youth Enterprise Financing program and launch 6 pilot projects.
 
 - A Corp Nano Super Flexi Savings Scheme with sweep facility was
 introduced for Micro Traders / hawkers.
 
 - Corp Tutor Fee scheme for financing tuition fees for preparation of
 entrance examination of professional exams.
 
 - Operation Customer outreach drive to increase retail Term Deposits.
 
 - Corp CA to cater to the various financial needs of Chartered
 Accountants.
 
 - Corp CS to cater to the various financial needs of Company
 Secretaries.
 
 - Corp Tax Saver Plus deposit scheme with three benefits viz., High
 interest rate, Tax benefit under section 80C and Personal Accident
 Insurance Cover.
 
 - Corp Home Premium – NRI, a New Housing Loan scheme for Non-Resident
 Indians (NRIs).
 
 - Corporation Bank has appointed International Sprint Athlete Miss
 Ashwini A.C. as Brand Ambassador of the Bank.
 
 - The Bank celebrated its 106th foundation day by dedicating a Heritage
 Museum and Financial Research Centre at Udupi, Karnataka – the Banks
 birthplace.
 
 - Bank has held SME meets at 5 centres across the country as the focus
 area for deployment and 82 branches taken up for focussed lending to
 SME.
 
 5.  Awards and Accolades
 
 - Your Bank has been adjudged as the first in so many areas and thereby
 brought laurels to its credit of which a few are:
 
 - Your Bank received an award for its Financial Inclusion Programme
 from Association of Development Financing Institutions in Asia and the
 Pacific
 
 (ADFIAP) and Bagged SKOCH Financial Inclusion Award 2011 instituted
 by SKOCH Consultancy Services Pvt. Ltd., for having operationalised
 financial inclusion programme in all the 334 locations allocated by
 SLBCs by 31st December 2010, 15 months ahead of the scheduled date of
 31.03.2012.
 
 - Your Bank has been conferred the Best Public Sector Bank by
 Financial Express – Indias Best Banks Survey 2010and has bagged the
 Number One Slot under the category of Nationalised Banks.
 
 - Corporation Bank has been rated as Indias most Customer Friendly
 Bank in the survey conducted by ‘The Outlook Money - TNS conducted
 during October – December 2010.
 
 - The Bank has won Three Banking Technology Awards 2010 for its efforts
 in use of technology in Online Banking, Financial Inclusion and
 Training and e-learning initiatives under the auspices of the Indian
 Banks Association (IBAS).
 
 - The Chairman & Managing Director, of your Bank is honoured by
 Bangladesh Women Chamber of Commerce & Industry (BWCCI) for the support
 provided by Corporation Bank to BWCCI through XI Commonwealth – India
 Small Business Development Programme.
 
 6.  The Bank has initiated several steps towards people developments,
 organisational re-design and process changes to accelerate growth with
 quality.
 
 7.  I take this opportunity to express my sincere thanks and gratitude
 to all the shareholders of the Bank for reposing their faith and
 confidence in the Management. I thank all the employees for their
 active involvement and fine contribution towards the progress of the
 Bank. It is with sincere thanks I remember our valuable customers for
 their continued support and patronage. I would also like to thank RBI
 and Ministry of Finance, Government of India for their support and
 guidance in achieving the progress.
 
 NOTICE
 
 NOTICE IS HEREBY GIVEN pursuant to Regulation 56 of the Corporation
 Bank (Shares and Meetings) Regulations, 1998 that the Fourteenth Annual
 General Meeting of the Shareholders of CORPORATION BANK will be held on
 Saturday, 9th July 2011, at 10 a.m. at Millennium Building, Corporation
 Bank, Head Office, Mangala Devi Temple Road, Pandeshwar, Mangalore –
 575 001, KARNATAKA State to transact the following business:
 
 Item No. 1: To discuss, approve and adopt the Audited Balance Sheet of
 the Bank as at 31st March, 2011, Profit and Loss Account of the Bank
 for the year ended 31st March, 2011, the Report of the Board of
 Directors on the working and activities of the Bank for the period
 covered by the Accounts and the Auditors Report on the Balance Sheet
 and Accounts.
 
 Item No. 2: To declare Dividend on Equity Shares for the Financial Year
 2010-2011.
 
 NOTES
 
 1.  APPOINTMENT OF PROXY
 
 A SHAREHOLDER ENTITLED TO ATTEND THE MEETING, IS ALSO ENTITLED TO
 APPOINT A PROXY TO ATTEND INSTEAD OF HIMSELF/ HERSELF, AND SUCH A PROXY
 NEED NOT BE A SHAREHOLDER OF THE BANK.
 
 However, the proxy so appointed will not have any right to speak at the
 Meeting.
 
 No person shall be appointed as a proxy who is an officer or an
 employee of Corporation Bank.
 
 As per the Regulations 70(vi), the grantor of an instrument of proxy
 shall not be entitled to vote in person at the meeting to which such
 instrument relates.
 
 The proxy form, in order to be effective, must be received by the Bank
 at its Head Office at Mangala Devi Temple Road, Mangalore – 575 001,
 Karnataka State not later than FOUR DAYS before the date of the
 meeting, i.e.  on or before the closing hours i.e. 5.00 p.m. of Monday,
 4th July 2011.
 
 2.  APPOINTMENT OF AN AUTHORISED REPRESENTATIVE
 
 No person shall be entitled to attend or vote at the Annual General
 Meeting as a duly authorised representative of any body corporate which
 is a shareholder of the Bank, unless a copy of the resolution
 appointing him/her as a duly authorised representative, certified to be
 true copy by the Chairman of the meeting at which it was passed shall
 have been deposited at the Head Office of the Bank with the Company
 Secretary, Corporation Bank, Investor Services Department, H.O.,
 Mangalore–575 001 Karnataka State not later than FOUR DAYS before the
 date of the Meeting i.e., on or before the closing hours i.e. 5.00 p.m.
 of Monday, 4th July 2011.
 
 3.  EXERCISE OF RIGHTS OF JOINT HOLDERS
 
 If shares are in the names of joint holders, then first named person is
 only entitled to attend the meeting and is only eligible to vote (by
 poll or by show of hands) in the meeting.
 
 4.  ATTENDANCE SLIP - CUM - ENTRY PASS
 
 For the convenience of the shareholders, Attendance Slip- cum-Entry
 Pass is annexed to this notice. Shareholders/ Proxy holders/Authorized
 Representatives are requested to fill in and affix their signatures at
 the space provided therein and surrender the same at the venue. Proxy/
 Authorized Representative of shareholders should state on the
 Attendance Slip-cum-Entry Pass as Proxy or Authorized
 Representative as the case may be.
 
 5.  CLOSURE OF REGISTER OF MEMBERS
 
 Pursuant to Regulation 12 of the Corporation Bank (Shares and Meetings)
 Regulations, 1998, the Register of Members and the Share Transfer Books
 of the Bank will remain closed from Tuesday the 21st June, 2011 to
 Monday the 27th June, 2011 (both days inclusive) in connection with the
 Fourteenth Annual General Meeting and for the purpose of determining
 the names of shareholders entitled to participate in the Annual General
 Meeting and to receive the dividend, if any.
 
 6.  PAYMENT OF DIVIDEND
 
 The Board of Directors have recommended at their meeting held on 29th
 April, 2011, a Dividend of Rs.20.00 per share of Rs.10/- each which is
 required to be declared by the shareholders at this AGM. The
 shareholders are therefore requested to declare the Dividend of Rs.20.00
 Per share of Rs.10.00 each, i.e.200%.
 
 The Dividend, if declared at the Annual General Meeting, will be paid
 on or after 22nd July, 2011 and within 30 days of declaration thereof,
 to those shareholders whose names appear on the Banks Register of
 Members/Benefcial Owners as furnished by NSDL/CDSL as on 20th June,
 2011.
 
 7.  DETAILS OF BANK ACCOUNT IN DIVIDEND WARRANT/NATIONAL ELECTRONIC
 CLEARING SERVICE (CREDIT CLEARING) – (NECS)
 
 SEBI has made it mandatory for all the listed companies, including
 banks, to mention in the Dividend Warrant, the Bank Account details
 furnished by the shareholders, while distributing Dividends as well as
 to use the National Electronic Clearing Service (NECS) facility
 wherever available. In the absence of NECS facility at certain centres
 and in the event of some shareholders not availing such facility, the
 Bank shall print the Bank details, as available with them in the
 dividend warrants.
 
 The shareholders who are holding the shares in physical form may send
 their Bank Mandate details to Investor Services Department of the Bank
 or to the Share Transfer Agent of the Bank M/s Karvy Computershare Pvt.
 Ltd.,
 
 Hyderabad, for necessary updation of the records. The shareholders who
 are holding the shares in demat form, may approach their Depository
 Participants for necessary action in this connection. A Proforma of
 NECS Mandate/ Bank Mandate is furnished in the Annual Report.
 
 8.  UNCLAIMED DIVIDEND IF ANY
 
 The shareholders who have not encashed their Dividend Warrants/received
 Dividend of previous periods if any are requested to contact the Share
 Tansfer Agent for issue of duplicate Dividend Warrant. In this regard
 Bank is also sending reminder letters from time to time to the
 concerned shareholders as per Dividend Register of the Bank.
 
 As per the Section 10B of the Banking Companies (Acquisitions and
 Transfer of Undertakings) Act, 1980, the amount of Dividend remaining
 unpaid or unclaimed for a period of seven years is required to be
 transferred to the Investor Education and Protection Fund (IEPF)
 established by the Central Government under Section 205C of the
 Companies Act, 1956, and thereafter no claim for payment shall lie in
 respect thereof either to the Bank or to the IEPF.
 
 9.  REQUEST TO THE SHAREHOLDERS
 
 (A) Copies of Balance Sheet
 
 Shareholders are advised that copies of the Annual Report will not be
 distributed at the venue of the Annual General Meeting and hence
 shareholders are requested to bring their copies of the Annual Report,
 which are mailed by the Bank to them at their registered addresses.
 
 (B) Dematerialisation of shares
 
 Shareholders who are still holding their shares in physical form are
 requested to get their shares dematerialised.
 
 (C) Change of address
 
 Shareholders are requested to notify any change in their addresses to:
 
 - Their respective Depository Participant in respect of holding of
 shares in dematerialised form.
 
 - The Share Transfer Agent, M/s Karvy Computershare Pvt. Ltd., Unit:
 Corporation Bank, Plot No. 17 - 24, Vittal Rao Nagar, Madhapur,
 HYDERABAD–500 081 in respect of shares held in physical form.
 
 - Shareholders are also requested to register/update their e-mail
 address with the Bank to enable the Bank to send all
 communications/notices/
 
 Annual Report etc., through e-mail. Shareholders holding shares in
 demat mode are requested to register/update their e-mail addresses with
 their respective Depository Particpants. Shareholders holding physical
 shares are requested to send/ update their e-mail address with M/s.
 Karvy Computershare Pvt. Ltd., the Share Transfer Agent of the Bank, at
 the earliest.
 
 (D) Information on Accounts
 
 Shareholders seeking any information/clarifcation with regard to
 accounts are requested to address their letters to the Company
 Secretary, Corporation Bank, Investor Services Department, Head Office,
 Mangalore – 575 001, Karnataka State at least seven days in advance of
 the Annual General Meeting so as to reach latest by Saturday, 2nd July
 2011 by 1.30 p.m., to enable the Bank to keep the information ready.
 
 (E) Consolidation of Folios
 
 Shareholders who hold shares in physical form in multiple folios in
 identical names or joint names in the same order of names are requested
 to send the share certificates to the Share Transfer Agent of the Bank,
 M/s Karvy Computershare Pvt. Ltd., for consolidation into a single
 folio.
 
 (F) Change of Status
 
 Non-Resident Indian Shareholders are requested to inform the Share
 Transfer Agent of the Bank, M/s Karvy Computershare Pvt. Ltd., in
 respect of shares held in physical form or to inform their respective
 Depository Participants if shares are held in dematerialised form
 immediately of:
 
 a) the change in the Residential status on return to India for
 permanent settlement.
 
 b) the particulars of the Bank Account maintained in India with
 complete name, branch, account type, account number and address of the
 Bank with PIN, if not furnished earlier.
 
 (G) Other information
 
 Shareholders may kindly note that no gift/gift coupon will be
 distributed at the meeting.
 
 
 
                                     By order of the Board of Directors 
                                          for CORPORATION BANK
 
 Place: Mangalore                              (S. K. DASH)
 
 Date: 01-06-2011                            COMPANY SECRETARY