Union Bank of India (UBI), country’s largest public sector lender has inaugurated its ‘UnionXperience’ branch to facilitate improved experience to its customers. The said branch is located nearby West Tambaram in Chennai.
Besides, in order to increase its business in the country, the bank would now focus on strengthening its retail portfolio in the current fiscal. As of March 31, 2012, the bank’s total business was Rs 403,900 crore with deposits of 222,869 crore and advances of Rs 181,031 crore. The bank’s capital adequacy ratio is 11.85%.
Further, the bank’s outstanding lending to agriculture sector is Rs 1,739 crore, for Micro, small and medium enterprises at Rs 1,648 crore and Rs 1,539 crore for retail loan.
Union Bank of India currently has 3,252 branches and 4,179 ATM networks across the country.