The State-run United Bank of India
(UBI) has started its 36th regional office in Hyderabad to boost business in Telengana
and Andhra Pradesh. The Kolkata-based lender has sculpted this new regional
division to increase its focus in telugu states. UBI's advances in Bangalore
region, Karnataka was seven times of what it has collected as deposits. The
bank said that the business for the new region now stands at INR 2,935 Crores
following the operational reign with deposits at INR 450 Crores and advances at
INR 2,485 Crores. The new region has already 34 branches while UBI also plans
to open 8 more branches in this year. The undivided Bangalore region had 67
branches with a total business of INR 5,381 Crores. Total deposit were INR 755
Crores while advances were at INR 4,626 Crores. UBI has 4.10 Crore customers. Pawan
Bajaj (UBI Managing Director) said that the opening of Hyderabad Region would
strengthen bank's outreach in telugu states.
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