UBI records steady business growth in Bihar

Patna, Sep 06 (UNI) Overcoming stiff competition from other Public Sector Banks, United Bank of India (UBI) has recorded a healthy business growth in Bihar during the first quarter of the current fiscal with the total volume of trade touching a record Rs 956 crore mark till June 30.

UBI sources told UNI here today that the state having 450-odd branches of the Bank had been enjoying a comfortable credit-deposit ratio of more than 40 per cent during the period, and in terms of credit offtake in priority sector it was more than 81.66 per cent against only about 40 per cent on the national average during the first three months of the current fiscal.

Similarly, the sources said in agriucultural sector UBI branches in Bihar had extended credit of more than 25.80 per cent, nearly eight per cent higher than the national average during the same period.

Claiming that UBI had always come forward in fulfilling its commitment to the uplift of the poor and downtrodden, the sources said as a large chunk of these people still lived in Bihar despite all development, 12.61 per cent of the total credit portfolio of the Bank in the state had gone in favour of these people bringing new ray of hope in their lives.

UNI