BANKING
| Corp Bank in talks to buy Rupee Cooperative Bank: report Mon, 07 Mar 2011 10:01:50 +0530 |
| State-run lender Corporation Bank is in talks to acquire Pune-based Rupee Cooperative Bank to expand its footprint in Maharashtra, a financial daily reported on Monday. "We are still evaluating the proposal. Nothing has been finalised yet," Ramnath Pradeep, chairman and managing director of Corporation Bank, told the paper. Both banks have been in talks for a few months now and Corporation Bank will have to evaluate the assets and liabilities of the smaller lender to arrive at a valuation, the paper said, quoting sources close to the development. However, Rupee Cooperative Bank Chairman Indrakumar Oswal denied this, saying there have been no preliminary talks for a merger, the newspaper reported. |
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