UBI targets Rs 55,000 cr business in 2006-07

Kolkata, May 24: Kolkata based United Bank of India (UBI) is targetting Rs 55,000 crore business in 2006-07, its chairman-cum-managing director P K Gupta said today.

Interacting with the Merchant Chamber of Commerce members, Mr Gupta said the Bank's balance sheet is clean.

He said the Bank had written to the government to allow write off of losses against capital to the extent of Rs 278 crore.

He said the Bank had recorded gross NPA of 4.66 per cent and the net NPA stood at 1.95 per cent.

UBI, he said would introduce core-banking solutions in 600 branches and the pilot project would be launched in September 2006.

UNI