Corporation Bank, OBC and Indian Bank signs MOU for strategic alliance

Corporation Bank has announced that the CMDs of the Bank, Oriental Bank of Commerce and Indian Bank at the meeting held on September 15, 2006, have arrived at a broad understanding and signed a Memorandum of Intent (MOI) on strategic alliance - [OIC].

The following are the illustrative areas of collaboration and co-operation.

1. Build e-payment system.

2. Share IT Resources.

3. Share Treasury resources.

4. Foray Capital Markets and International and other financial ventures.

5. Bancassurance.

6. Business syndications and sharing.

7. Share Training Resources.

8. Common procurement of IT and other assets, wherever feasible.

9. Any other mutually acceptable and beneficial areas.

Source : Equity Bulls

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