Financial Daily from THE HINDU group of publications
Tuesday, Aug 02, 2005
Financial Daily from THE HINDU group of publications Tuesday, Aug 02, 2005 |
|
|
|
|
|
|
|
Money & Banking
-
Public Sector Banks Uco Bank to expand branch network in AP Our Bureau
Visakhapatnam , Aug. 1 UCO Bank is planning to expand its branch network in the State by setting up six more branches in addition to the existing 36, according to the General Manager (Operations), Mr B.K. Das. He was speaking at a function in the main branch of the bank here in Dwarakanagar on Monday on the occasion of shifting the branch premises. The new branches would be located at Anakapalle, Kakinada, Warangal, Nizamabad, Kurnool and Cuddapah. He said the bank, with a business of Rs 77,700 crore as on March 31, 2005, was aiming at touching the Rs 1-lakh crore mark by the end of the financial year. It had risen from the seventh position to the sixth among the nationalised banks, he said. Mr Das said the Uco bank, acting as the corporate agent of the LIC and National Insurance Company, stood first among the public sector banks in marketing bancassurance products. The bank's net profit as on March 31 was Rs 345.65 crore, the capital adequacy ratio 11.26 per cent and the net NPA 2.93 per cent. Concerted efforts would be made to further reduce the NPA, he added. The senior manager, Mr R. Ramamurthy, said the main branch was fully computerised with Saukaryam facility (online collection of municipal taxes). In the near future, an ATM would be set up at the branch. The bank had an evening counter, functioning on all weekdays (except on Saturday) from 5 p.m. to 7 p.m., he said.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|