Union Bank of India (UBI) has
proposed to open 50 ATMs across the country this fiscal to
compete with both nationalised and private sector banks,
according to chairman cum managing director of the bank V
"The UBI has just 11 ATMs till date which are inadequate
in view of the growing demand and need in the competitive
market, so we are going for more ATMs", Leeladhar told a press
conference in Nagpur on Sunday.
The UBI, which posted a net profit of Rs 155 crore on
March 31, 2001, is all set to enter corporate insurance for
both non-life and life insurance through strategic alliance
with insurance companies, Leeladhar said adding the bank has
shortlisted two companies and operations would commence soon.
Bank's Non-Performing Assets (NPA) have come down from
7.97 per cent to 6.87 per cent. Under one time settlement, UBI
has settled over 28,000 accounts with a sum of Rs 151.7 crore,
the CMD said.
Leeladhar said UBI business per employee, which was Rs
135.44 lakh last year, has now gone up to rs186.36 lakh in
The bank has set a target of 20 per cent growth in
business which means a total business target of Rs 62,500
crore, Leeladhar added.