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United Western Bank announces 1:5 bonus

Our Bureau

Mumbai , Aug 30

THE Satara-based United Western Bank has declared bonus share issue in the ratio of 1:5 and rights issue in the ratio of 1:2.

The board of directors approved the bonus and rights issues on August 26, a press release from the bank said. In the last two-three years, United Western Bank has posted sustained growth in its business levels, which have crossed Rs 10,000 crore. The Bank has networked 170 branches spread over 100 cities to provide anywhere banking services.

The bank's network of over 65 ATMs is linked to National Financial Switch, which enables the cardholders to avail of ATM services at over 5,000 ATMs across the country.

The bank has also tied-up with New India Assurance Company and with Western Union Money Transfer for overseas remittances.

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