Recent press reports said that United Bank of India has received its board’s approval in place for raising Rs 550 crore through tier-II bonds, as and when there is need for capital.
Mr. Bhaskar Sen, Chairman and Managing Director, United Bank of India told the press that they have board’s approval for raising Rs 550 crore through bonds which will be used when it is necessary as the bank has sufficient capital to sustain its growth for the next couple of years.
The bank has recently opened a retail loan processing centre in Kolkata, and has planned to add 25 such centres across the country this year. The bank’s total loan book currently includes 15 % retail advances and the bank expects 30 per cent growth on the retail side. The bank also offers an unsecured Personal loan in order to meet one’s personal eventualities.
Mr. Bhaskar Sen said that the bank expects a professional approach towards sanction of loans and the turnaround time would be within two weeks as the processing centres are in place. He added saying that the bank has created a separate vertical for corporate loans, which forms 60 per cent of the bank’s loan book. The bank recently opened corporate branches in Mumbai, Delhi and Kolkata.