VIJAYAWADA: Corporation Bank Managing Director and Chief Executive Officer (CEO) PV Bharathi said the proposal of merging the bank with Union Bank of India and Andhra Bank would strengthen the banking sector in the country.
Addressing a press conference here on Tuesday, Bharathi said that currently, the bank’s average business turnover stood at around Rs 3 lakh crore per annum. “Using this, there is a lot of potentials for Corporation Bank to scale greater heights, introduce new products to reach all sections of customers and also help the bank in securing a place among the top five banks in the country,” Bharathi said.
Commenting on the rumour that the procedure would render several employees jobless, the MD clarified that there would be no job loss for existing employees.