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Union Bank of India's business plans

CHENNAI: Union Bank of India has fixed a target of Rs. 160,000 crore in respect of total business for 2006-07 against 125,000 crore achieved in 2005-06. Addressing presspersons here on Sunday M. V. Nair, Chairman and Managing Director, said that the bank was planning to add 100 more branches during the current year, taking the total to 2,183. The number of ATMs would go up to 1,000 by the end of the current financial year from the present 483. The bank had recently received approval from the Reserve Bank of India to open branches in Hong Kong and Doha (Qatar). Besides it would open representative offices in Shanghai and Dubai, Mr. Nair said. The bank would focus through four growth engines, namely, retail segment, small and medium enterprises (SMEs), agriculture and corporates.

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