The Hindu Business Line : Union Bank to bring 1,250 branches under CBS network

THE Executive Director of Union Bank of India (UBI), Mr K. Ratnakar Hegde, has said that the bank is planning to bring 1,250 branches under core banking solution (CBS) network by December.

In an informal chat with presspersons here, he said the bank had already connected 600 branches under the CBS network. He inaugurated the third CBS branch in Mangalore on Wednesday.

Asked if UBI is aiming at acquiring any other bank, he replied in the negative, and said, "The bank is looking at organic growth." Mr Hegde said UBI has opened 75 branches this year, and as many branches will be opened next year also.

The bank was planning to open representative offices in Dubai and Doha, he said.

To a query on agriculture lending, Mr Hegde said the bank had reached 14 per cent of the total credit disbursement when the target was 18 per cent.

The bank should be able to reach 16.5 per cent mark in agriculture lending this fiscal, he added.

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