Kolkata, May 22: Mumbai based Union Bank will provide Core Banking Sevices(CBS) in its 1,700 branches by March 2008.
Talking to newspersons Union Bank Deputy General Manager S Govindan said, ''We have already started implementing CBS network and by December 943 will be in play. We also aim to provide various technologically based services like railway freight payment, air and rail ticket booking, tax payment and internet telephone. After the implementation of CBS network this services will be easily available to our customers.'' The bank has also adopted four pronged strategy for growth in the eastern market.
The four sectors whch have been selected are retail, agri business, Small and Medium Enterprises (SME) and Corporate. ''We have targeted 28.5 per cent increase in retail business at Rs 1,800 crore in 2007-08 compared to 1,400 crore in 2006 -07.'' The target for agri sector is 35 per cent at 1,013 crore in 2007-08 compared to 750 crore in 2006-07.
The growth target for SME is 28 per cent at 925 crore compared to 720 crore in 2006-07.
The bank would open 20 branches in the eastern region out of which 11 will be in West Bengal.
The bank has also planned to set up two Core Processing Centre(CPC) to manage retail and SME business separetely in Kolkata.