Corporation Bank, public sector lender has entered into a Memorandum of Understanding (MoU) with Shriram Automall India (SAMIL), a leading service provider in pre-owned vehicles and equipment. According to MoU, SAMIL will assist the bank in the disposal through its multiple bidding platforms, including physical and online bidding. The company will also provide parking and refurbishment to the bank. A safe and secured warehousing of assets has been guaranteed along with well-equipped repair facility and complete assistance in certifying the market value of the vehicles.
Corporation Bank has registered a rise of 16.20% in its net profit at Rs 147.21 crore for third quarter ended December 31, 2014 as compared to Rs 126.69 crore for the same quarter in the previous year. Total income of the bank has increased by 5.30% at Rs 5209.54 crore for Q3FY15 as compared Rs 4947.34 crore for the corresponding quarter previous year.