Moreover, the three banks have wide reach in different parts of the country and all the three combined would mean a reach that’s going to be all-encompassing. While, at one end Corporation Bank & Indian Bank are dominant in the southern parts of India, OBC after acquiring Global Trust Bank has a much wider reach in the northern parts of Indian peninsula. This alliance extends to building e-payment system, Bancassurance, business syndication and collaboration in terms of procurement of assets (IT and others). Even investors are rating the move positively as the shares of Corporation Bank and OBC, the listed ones, have shot up by 20% and 23% (Sept 11 to Sept 21) respectively in the bourses.
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Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006
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