United Bank of India steps up turnaround efforts

Last year, the bank got back about Rs 1,200 crore through recovery

Kolkata-based United Bank of India has trimmed its workforce by 700-800 in the past one and half years as a part of its turnaround plan. 

While the bank has not retrenched any employees, it has been selectively hiring to replace retired ones.

The bank has identified about seven to eight urban branches for possible merger with bigger ones by the next quarter. Also, the bank is looking to sell non-performing assets (NPAs) of about Rs 1,500 crore to asset reconstruction companies (ARCs) by the next quarter, and so far it has sold about Rs 350-400 crore to ARCs. 

The bank is going for