UBI opens new branch in Chennai

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Chennai, August 21 (UNI) Union Bank of India, one of the top five public sector banks in the country, today opened its new branch at Velachery in the city.

The branch, 49th in Chennai and 156th in Tamil Nadu, was inaugurated by UBI Director K S Srinivasan.

Speaking on the occasion, he said the bank would open new branches at Kolathur, Alandur, B and C Mill (Perambur), West Tambaram and Pallavaram soon.

UBI General Manager P Y Nagar said the bank has targeted a total business of Rs 2,20,000 crore for 2008-09. The bank was making profits right from its existence and has a customer base of 20 million.

The total business of the bank crossed Rs 1,83,058 crore as on June 30, 2008. It has recorded a net profit of Rs 1,387 crore as on March 31 this year, a growth of 64.14 per cent.

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