Financial Daily from THE HINDU group of publications
Saturday, Oct 22, 2005
Financial Daily from THE HINDU group of publications Saturday, Oct 22, 2005 |
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Money & Banking
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Credit Cards & Debit Cards UTI Bank to offer credit card Our Bureau
Thiruvananthapuram , Oct. 21 AFTER having built up a strong debit card base, UTI Bank is set to enter the credit card business. The bank has finalised plans to launch its credit cards some time in the next quarter, according to Dr P.J. Nayak, Chairman and Managing Director. He said here on Friday that UTI Bank had come to occupy the third position in the number of debit cards issued, after State Bank of India and ICICI Bank. The bank had over three million debit card holders till date. Dr Nayak ruled out the possibility of the bank going for a public issue over the next two years to increase its Tier-1 capital. As of now, the capital adequacy ratio was at a healthy level of 11.7 per cent. However, the bank would continue to raise Tier-11 capital through issue of bonds.
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