The Hindu Business Line : Oriental Bank insurance venture

Oriental Bank of Commerce has mopped up insurance premium worth Rs 2.51 crore in the first phase of insurance business in joint venture with HSBC Insurance Holdings Ltd and Canara Bank, according to Mr R. M. Sharma, General Manager of the bank in charge of eastern region. “Our target was to achieve Rs two crore worth premium and we have already exceeded it. This was made possible because of the co-operation of our field functionaries,” said Mr Sharma.

According to Mr Sharma, the insurance joint venture would help boost the non-interest income of the bank. “This initiative should shore up our profitability and help increase our customer base to a great extent,” he said. –

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