UTI Bank subsidiary opens branch in pink city

Jaipur, October 11 (UNI) In a bid to increase its reach in the pink city and tap the business opportunities here, UBL Sales Ltd, a wholly-owned subsidiary of UTI Bank Ltd has opened its first branch in Jaipur.

UBL Sales will market the financial asset products such as retail loans and credit cards of UTI Bank through the new branch.

''Company's objective is to build competitive advantage in the marketing of credit cards and retail loans through skilled and trained manpower, speedy geographical reach covering high potential and less serviced centers, specialised business processes to build efficiencies and adopting best practices and benchmarking with the relevant markets,'' UBL Sales Ltd MD Sanjay Silas said.

UBL Sales will launch its operations at 42 locations across the country by March next year and hire around 3500 sales staff for marketing the financial asset products of UTI Bank.

The subsidiary company also plans to set up an effective sales model that will attract a better quality of sales personnel, optimise sales force productivity and provide better control and monitoring of the sales effort vis-a-vis the prevailing DSA model, he said.

Enormous growth in retail and consumer lending in India coupled with the rising incomes of middle class and affluent segments offers huge opportunities in the retail-financing segment.

UTI Bank Vice President and Branch Head (Jaipur) N M Raja said that the bank shall extend full support to its subsidiary for meeting the business challenges and exploring new geographical avenues in the city.

Apart from this branch, UBL Sales has four branches, one each at Bangalore, Hyderabad, Indore and Ahmedabad which were inaugurated last week.

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