United Bank of India is targeting a net profit of around Rs 1,000 crore for the 2019-20 fiscal. The bank is planning to raise capital to the tune of Rs 800-1,000 crore in the Q3FY20.
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.
