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MUMBAI: Union Bank of India (UBI) has declared an interim dividend of 20 per cent for the financial year 2004 -05.

The bank had earned a net profit of Rs 480.15 crore during the nine months ended December 2004 and plans to achieve a business mix of Rs 1,00,000 crore by March 2005, said a press release.

UBI's core banking solution initiative currently covers 545 branches. 700 branches will come under its network by March 2005.

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