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Monday, September 9, 2013

United Bank to increase branches, ATMs to 2,000 this fiscal: CMD

United Bank of India (UBI) will increase the total number of branches and ATMs to 2,000 each across India this fiscal, Archana Bhargava, Chairman and Managing Director, said on Saturday.

Inaugurating the Bank’s 35th Regional Office, at Ahmedabad, she said the bank will take special care to provide financial services and credit facilities in financially excluded sectors at affordable cost. It is committed for the growth of MSMEs, agriculture and other service sectors in the state.

She also expressed concern over high rise in NPAs and emphasised the need for strengthening recovery measures. She advised the officials to take strict measures like sale of assets/change of management in case persuasive recovery measures fail to yield any results.

With 29 branches, UBI has covered 20 districts of Gujarat. Sanction letters of loans for more than Rs 20 crore under retail were delivered to the borrowers.

The bank has posted business of Rs 1.81 lakh crore in the quarter ended June 2013 with a growth of 22% and it is expected to cross Rs 2 lakh crore shortly. Also, the bank was making efforts to increase its customer base to three crore. All new branches are being opened with more than 1,000 accounts.

Source: thehindubusinessline


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