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United Bank sets business target
HYDERABAD: United Bank of India (UBI), which has 12 branches in Andhra Pradesh and a business of Rs. 384 crores expects it to touch Rs. 520 crores by financial year end, according to K. N. Prithviraj, Executive Director. Addressing a press conference here on Tuesday, he said it plans to open 3-4 more branches in the State. On overall performance of the bank, he said it was targeting business of Rs. 34,000 crores by month, and expected to do Rs. 50,000 crores by March 2006. Having `turned around' without Government support, but still having accumulated loss of Rs. 530 crores, Mr. Prithviraj said they expect to wipe off all losses by middle of next year. They are projecting a Rs. 250 crore budget spend for technology till March 2007, and expect to achieve total computerisation by March 2006. It has managed to bring down NPA level to less than 3 per cent, and targeted 1.5 per cent by March next, he said. — Our Special Correspondent
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