United Bank of India (UBI), which came out with an IPO in early 2010, might explore the possibility of coming out with an FPO after two years, UBI chairman and managing director Bhaskar Sen said.
"At the moment, the bank is well capitalised to grow at 20% to 25% for the next two years. Going forward, we will have to evaluate other options," Sen told reporters on the sidelines of a Ficci Banking Conclave here today.
To a query on whether the bank would consider a follow-on offer, Sen said that could be a possibility.
After the IPO, the government's holding in the bank stood at 85.48%. As per the rules, the government's stake in public sector banks should not go below 51%.
Sen said the bank was looking at a credit growth of 20% this fiscal.
In the current financial year, the bank will hire 700 officers and clerks, he said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app