A recent press report said that UCO Bank plans to increase its business by Rs 1 lakh crore to Rs 3.5 lakh crore by March 2013 by getting existing branches to do more business and by increasing its number of branches.
The bank currently has 2,239 branches, and it has planned to increase it by 3,000 by March 2013. It has also planned to increase its branch network to 4,000 by 2016.
Reports said that the bank has planned to increase its number of ATMs to 3,000 by March 2013 and to 5,000 by March 2016 from the existing 681.
Reports also said that the bank has recently launched a ‘Total Freedom’ campaign in order to boost its CASA deposit ratio. The objective of the campaign is to take the bank’s CASA share in total deposits from 24 per cent to around 35 per cent by the end of the third quarter of this fiscal.
Mr. R. K. Agrawal, Field General Manager (Maharashtra, Madhya Pradesh and Chhattisgarh), of the bank said that the Total Freedom campaign is valid till December 31 and is applicable to savings and current account holders with minimum average balance of Rs 2,500 and Rs 10,000 respectively.
The bank also covers a wide category of services such as Term loans, Personal loan, Bank Guarantee, Agricultural working capital financing, loan for services and trade category etc.