United Bank of India plans to expand its presence across the country
By Joseph Samson
Aug 22, 2012
Print    Email    RSS   

The Kolkata headquartered United Bank of India (UBI) plans to open 84 new branches across the country in the current fiscal year. At present, the bank has presence mostly in north and north eastern states of the country and plans to commence 84 new branches in urban and semi urban centers pan India.

Talking about the bank's expansion plans, the Executive Director of UBI Mr. Deepak Narang said that the bank has already sought RBI's approval for opening 34 branches. He added that RBI's permission for rest of the 50 odd branches will be sought next. Out of these, 20 branches are to be set up in rural areas, for which permission is not needed.

Adding that due to the slow economic conditions and unsatisfactory credit demand, the bank's main focus will remain retail segment Mr. Narang said that loan products like home loans, auto loans, education loans and loans to SMEs could be major growth drivers. He also said that UBI could grow quickly in the home loans segment as the bank's exposure in the said segment is of Rs. 3000 crore as against total bank advances of Rs. 63,000 crore.

Currently, the bank has 26 retail points in all. The bank also plans to set up a representative office in Mynamar, it would be the first Indian bank to open office in Mynamar.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

The Home Loan Rate Pendulum
Know About Different Types of Home Loans...
Income Tax Benefits on Joint Home Loans
The right age for home loans!
Property: A good investment option to...

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive