Corporation Bank is based in Mangalore and has pan-India presence with more than 6,100 functional units comprising 1500 branches, 1274 ATMs & 3390 branchless banking units as on March 2012. The bank was founded in 1906 with an initial capital of Rs. 5000. The Bank is a Public Sector Unit with around 57% of Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) in 1997. Corporation Bank is one of the Best 200 companies world over outside the United States having a turnover under a billion US$. Currently the bank is considered as one among India’s Best Public Sector Banks.