Vishrantwadi branch opened, Union Bank to open 67 more across the state
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The Union Bank of India has crossed another milestone in its growth by opening a branch at Vishrantwadi in Pune district. This takes the total number of branches of the bank to 2600. The bank plans to open 500 additional branches this fiscal of which 67 will be in Maharashtra. The bank has 1899 ATMs spread across the country and plans to take this number to 2500 by March 2010.
The bank will also focus more on small and medium sector (SME) lending in Maharashtra, M V Nair, chairman and managing director, Union Bank of India, told presspersons here.
With the opening of the Vishrantwadi branch, the bank has 361 branches in Maharashtra with a total business of Rs 73,444 crore as on 31st March 2009. Deposits were at Rs 36,000 crore and Advances at Rs 37, 410 crore. Using hand-held devices, the bank's business facilitators and business correspondents will call at the place of work or residence of the individual and enable them to draw or deposit cash. "This offers the customer the advantage of availing themselves of bank facilities without visiting the branch and without taking time off from his daily work," the Chairman said. Union Bank is a large Public Sector Bank in the country.