Corporation Bank, the oldest banking institution in the erstwhile undivided South CanaraDistrict of the Madras Presidency and one of the oldest banks in India, was founded on 12 March 1906 in the Temple Town of Udupi by a small group of philanthropists, as there was no such bank at Udupi, an important trading centre next to Mangalore. The first branch of a modern bank established in the district was the Bank of Madras, one of the three Presidency Banks, which set up its office in Mangalore in 1868, largely to cater to the business needs of a few British firms dealing in export of plantation products. 

Today, Corporation Bank is a public-sector banking company headquartered in Mangalore, India. The bank has a pan-Indian presence. Presently, the bank has a network of 2,440 fully automated CBS branches, 3,040 ATMs, and 4,724 branchless banking units across the country. The bank has representative offices in Dubai and Hong Kong.
As of 31 March 2016, the total business of the bank was Rs 345,493 crore (US$54 billion). Total deposits stood at Rs 205,171 crore (US$32 billion) and total advances were Rs 140,322 crore (US$22 billion). The bank's net worth rose to Rs 11,344 crore (US$1.8 billion).