With 166 branches in Gujarat, Union Bank of India's business has posted a growth of Rs 400 crore (7.14%) in the first quarter of current financial year to Rs 6,000 crore from Rs 5,600 crore in the same period of previous year. | |
| In the first quarter of 2005-06, the bank had witnessed around three per cent (Rs 161 crore) decrease in Gujarat branches from Rs 5,761 crore in same period of 2004-05. |
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| "The bank's total business in Gujarat had climbed down by Rs 161 crore in first quarter of previous year but this year it has increased by Rs 400 crore," said T K Sharma, General Manager, Union Bank of India. |
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| He added that during the first quarter of previous year, the bank had mobilised its institutional deposits resulting into negative growth of Rs 161 crore. "However, total business of the bank across the nation grew 26 per cent by Rs 27,546 while Gujarat region grew by Rs 400 crore," said Sharma. |
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| Talking about Gujarat's expansion plan, Sharma said, "For the year 2006-07 we have a plan to establish 10 ATMs and eight branches in Gujarat." |
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| He further said that the bank also plans to install a kiosk in a branch of Surat. |
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| "In our new branch of Surat which is yet to commence, we will install a kiosk which will be similar to ATM. This kiosk will collect cash as well as cheques for 24 hours," said Sharma adding that this will be the bank's first kiosk in Gujarat. |
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