Public sector lender Union Bank of India (UBI) is planning to increase its network to 3,500 branches and 5,000 ATMs across the country by March 2013. In this regard the bank will set up 300 new branches 800 ATMs across India, besides 100 money vending machines catering to banking needs of blinds.
The bank is also planning to open at least three branches overseas in countries like UK, Australia and Dubai. Currently, the bank has network of 3,200 branches and 4,200 ATMs across India while, it has an overseas branch in Hongkong, which account for nearly Rs 11,000 crore business.
The bank has reported a rise of 10.16% in its net profit at Rs 511.59 crore for the quarter ended June 30, 2012 as compared to Rs 464.42 crore for the same quarter in the previous year. Total income increased by 21.51% at Rs 6561.10 crore for quarter under review as compared to Rs 5399.68 crore for the quarter ended June 30, 2011.
