GUNTUR: Union Bank of India General Manager C. Abraham on Thursday inaugurated the renovated and fully air-conditioned bank premises on Lakshmipuram Main Road. The bank provides one-stop services for all financial services including, foreign exchange and currency chest. Assistant General Manager S. Duraiswamy Reddy and other executives were present.
Speaking on the occasion, Mr. Abraham said that the bank had a business mix of Rs.2,39, 915 crore with deposits worth Rs.1.43 crore and advance component of Rs.96, 026 crore registering a profit of Rs.787 crore (for June quarter).
The bank has plans to expand its network to all nooks and corners of the country and added that they were on way to meet an ambitious target of adding 545 new branches to the existing network by year-end.
The bank has branches in overseas at Sydney, Shanghai and Abu Dhabi.
He said that the association with Guntur dates back to 1964, adding the branch had carved a niche for itself by taking the lead in financing crop loans and various commodities like cotton, chilli, turmeric etc. In addition to three branches in the town and four ATMs in the town, the bank had plans to open a fourth branch, he added.