Kolkata:
Union Bank of India (UBI) has set a target to achieve an overall
business growth of Rs 73,500 crore for 2002-03 from the Rs
62,000-crore-mark set in 2001-02. The over-18-per cent projected
growth is expected to come through an increase in its business mix
of deposits and advances in the current year.
The bank
projects a 19-to-20-per cent increase in its deposits
and advances, respectively, in the current year. Union
Banks deposits and advances at the end of the last fiscal
stood at Rs 39,100 crore and Rs 22,850 crore, respectively.
Retail banking will
continue to be a thrust area, which has contributed nearly 30 per
cent to the credit growth last year. According to the bank,
housing loans will be a major product where competitive pricing
and add-on features will support the cutting edge.
The bank also proposes to
expand its loan features to professionals as well as
self-employed, and widen the scope of its health scheme for
medical practitioners, besides covering
other professionals like software consultants and architects.
Retail lending is expected to bring in Rs 1,500 crore in the
current year.
|