Corporation Bank, OBC, Indian Bank sign MoU

Corporation Bank, Oriental Bank of Commerce and Indian Bank today signed a memorandum of understanding to form a strategic alliance.

According to releases issued by Corporation Bank and OBC to the BSE today, the chairmen-and-managing directors of the banks signed the MoU in Mumbai today.

The deal would facilitate to build e-payment system, and share IT, treasury and training resources, the releases added.

"The three banks would also collaborate on foray in capital markets, international and other financial ventures besides sharing business syndications and common procurement of IT and other assets," the releases said.

The three institutions would also co-operate with bancassurance and any other mutually acceptable areas, it added.

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