A recent press report said that UCO Bank has planned to ramp up its ATM network to 3,000 machines by end March 2013 from the current level of 681.
Reports said that the bank desires to expand its ATM network to 1,500 by the end of the current fiscal. The bank is also expecting its CASA share in total deposits to grow from 24 per cent to around 35 per cent by end March 2012 as it has recently launched ‘Total Freedom’ campaign.
Mr. Rajaram, Field General Manager, told the press that has recently started providing loans against gold jewellery for as part of its new product launch. He added saying that there is a great demand for loans against gold in the north.
Reports also said that the bank has planned to double its total business to Rs 6 lakh crore by FY16 through customer acquisition and network expansion. It is also targeting to raise the number of branches to 4,000 by March 2016 from 2,23 .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.