UCO Bank moots bank-cum-recreation branches for senior citizens

Jaipur, Sept 12 (UNI) UCO Bank, one of the major public sector banks has announced the launching of dedicated bank-cum-recreation branches for the senior citizens.

S K Goel, Chairman and Managing Director of the company while talking to newspersons here today said the concept was to make these branches not only a place for financial transaction but also a meeting point for the elderly.

He said in such dedicated branches the elderly would be provided with newspapers, refreshments and facilities for some indoor sports activites like table tennis, card room etc.

He said UCO Bank has three zonal offices in Rajasthan namely Ajmer, Jaipur and Jodhpur. In each of the zones at least one branch would be dedicated to the senior citizens.

Mr Goel said efforts are underway to reduce the gross non performing assets (NPA) of the bank from 3.9 to 2 per cent and net NPA to one per cent from 2.62 per cent.

He informed that UCO Bank now plans to carry out a capital restructuring to lower its capital base and thereby increase the earning per share.

He said a proposal in this regard is pending with the government.

He added the bank would also float an FPO by the end of this year.

UNI