Union Bank of India to open 100 new branches by the year end

Mumbai, July 7 (UNI) The Union Bank of India is on its aggressive expansion mode and plans to open 100 new branches within the country and abroad by the end of the current financial year.

The CMD of the bank, MV Nair, informed the media during a conference here, ''We've already got the Reserve Bank of India's nod for opening 30 new branches and two representative branches at places like Hong Kong and Dubai.'' Similarly, the bank is all set to increase the number of ATMs from existing 500 to 1,000 by the year-end, he added. It is the first time that the bank would be spreading its wings abroad.

Expressing his happiness over the bank's performance on the front of loan book, he said, ''Our bank has witnessed the loan growth of 31 per cent during the current financial year so far, which was more than two per cent of the figure recorded in June last year.'' UNI KKD KU VKG1650