United Bank of India (UBI), a Kolkata-based lender, is mulling at shifting its treasury department to the financial capital of the country in order to stay closer to the market. The bank may also look at appointing a consultant which will help it in the entire shifting process.
The shifting of operations will help the bank’s treasury department to increase its knowledge base and increase interactions with the market players who are all based in Mumbai.
United Bank of India is one of the 14 major banks which were nationalized on July 19, 1969. After nationalization, the Bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization.
