CORPORATION BANK OF MANGALORE IN ASIA IS EXPLORING OPPORTUNITIES OF INVESTING IN ZAMBIA’S BANKING SECTORS AMONGST OTHER COUNTRIES IN AFRICA.
THE DECISION OF SEARCHING FOR THE AFRICAN MARKET COMES AFTER THE SHAREHOLDERS TODAY APPROVED AN ALL-TIME HIGH DIVIDEND OF 20 RANDS A SHARE ON A PAID-UP EQUITY SHARE OF 10 RANDS FOR 2010 AND 2011.
CHAIRMAN AND MANAGING DIRECTOR OF THE BANK RAMNATH PRADEEP HAS STATED THAT THE BANK HAS TWO REPRESENTATIVE OFFICES IN DUBAI AND HONG KONG ADDING THAT IT IS EXPLORING THE POSSIBILITY OF OPENING BRANCHES IN ZAMBIA AND OTHER SUB-SAHARAN AFRICAN COUNTRIES SUCH AS KENYA AND BOTSWANA.
MR. PRADEEP IN HIS ADDRESS TO THE SHAREHOLDERS SAID THE TOTAL BUSINESS OF THE BANK DOUBLED IN THREE YEARS AND GREW EIGHT TIMES IN JUST 10 YEARS FROM OVER 25 RANDS CRORE AS ON MARCH 31, 2001 TO OVER 203 RANDS CRORE AS ON MARCH 31, 2011.
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