Financial Daily from THE HINDU group of publications
Saturday, Feb 12, 2005
Financial Daily from THE HINDU group of publications Saturday, Feb 12, 2005 |
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Money & Banking
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Public Sector Banks Union Bank sees biz volume at Rs 1 lakh cr Our Bureau
Hyderabad , Feb. 11 UNION Bank of India (UBI) expects its business volume to cross Rs 1-lakh crore by the end of the current fiscal year, according to its Executive Director, Mr K. Rathnakar Hegde. After inaugurating the bank's newly shifted branch here on Friday, Mr Hedge said the bank had already recorded a total business mix of over Rs 93,329 crore as at the end of December last year and posted a net profit of Rs 480.15 crore for the nine month period of the current fiscal. The share of the priority sector, which stands at Rs 16,858 crore, works out to 48.74 per cent of the total advances as against the benchmark of 40 per cent, Mr Hegde said. Union Bank has 123 branches in Andhra Pradesh with a total business of Rs 3,976 crore.
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