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 Hyderabad:
Corporation Bank
plans to cash in on its investments on ATMs by letting
other banks share the facilities.
The bank, which
has entered into agreements with Oriental Bank of Commerce,
Karnataka Bank and Bank of Rajasthan for sharing its ATM
network, is negotiating with a couple of other banks for
similar arrangements.
Disclosing this
at a news conference on the eve of opening 12 high-tech
banking units in the twin cities of Hyderabad and Secunderabad,
Corporation Bank chairman and managing director K Cherian
Varghese said the bank will finalise arrangements with
Dena Bank and Allahabad Bank shortly for sharing its ATM
network. “Plans are afoot to share our vast ATM network
with more banks.”
Aimed at further
strengthening its distribution network, the bank proposed
to go aggressive in expanding its ATM network across the
country.
 The
bank, which currently has a network of 300 ATMs, has initiated
measures to set up another 200 by the end of the current
fiscal year, taking the total network to 500 ATMs by 31
March 2003. The sites have been identified and the orders
for the ATMs have been placed, Varghese said.
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of reports on Corporation Bank
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