United Bank of India (UBI) might explore the possibility of coming out with an FPO after two years. The bank at present is well capitalised to grow at 20 percent to 25 percent for the next two years and going forward it will have to evaluate other options. The bank was looking at a credit growth of 20 percent this fiscal and in the current financial year, the bank plans to hire 700 officers and clerks.
The bank had come out with an IPO in early 2010 and after the IPO, the government's holding in the bank stood at 85.48 percent. As per the rules, the government's stake in public sector banks should not go below 51 percent.
Earlier in February this year, United Bank of India had decided to extend services in 1880 villages by March 31, 2011. The services are for those villages which have got no provision of banking and are with a population of over 2000 in 85 districts in 12 states and one union territory. The project would be held under the Financial Inclusion Programme. UBI would set up Customer Care Service Points (CCSPs) in un-banked villages. In these points only one business correspondent of the bank would make all kinds transactions with customers in the village through Internet banking.
| Company Name | CMP |
|---|---|
| SBI | 1019.55 |
| PNB | 107.20 |
| Canara Bank | 134.35 |
| Bank Of Baroda | 264.05 |
| Union Bank Of India | 166.15 |
| View more.. | |
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