Press
Release
United Bank of India, a leading public sector bank signed a Corporate Agency Agreement with Export Credit Guarantee Corporation of India Ltd. (ECGC) at the United Bank of India’s Head Quarters at Kolkata
United Bank of India, a leading public sector bank signed a
Corporate Agency Agreement with Export Credit Guarantee Corporation
of India Ltd. (ECGC) on 16th January 2008 at the United Bank of
India's Head Quarters at Kolkata. The agreement envisages marketing
of export credit insurance products of ECGC through the Bank's
network of branches. The agreement was signed by Shri S.Biswas,
General Manager, Marketing & NI, United Bank of India and Mr. V.
Viswanathan, General Manager, National Marketing Division, ECGC and
the copies of the agreement were exchanged between the Chairman &
Managing Director of United Bank of India Shri P. K. Gupta and
Chairman & Managing Director of ECGC Shri A. V. Muralidharan.
Speaking on the occasion, Shri P.K Gupta, CMD of United Bank of
India, said that the Corporate Agency agreement with ECGC is one
more step taken by the Bank for the benefit of customers in
pursuance of the Bank's mission to provide its customers premier
financial services of great value. The tie up with ECGC would be
beneficial for the exporter customers who would get insurance
protection against payment risks under various types of ECGC
policies at the bank branches itself. The enhanced services will
help in higher customer satisfaction and also bring in more
customers into the Bank's fold. United Bank of India is positioning
itself as a financial supermarket to provide to its customers a wide
range of products and services like demat, credit cards, insurance
and mutual funds with better access and greater convenience to
different customer segments. Shri P.K. Gupta
also said that the bank has also taken major steps on the I.T. front
to provide more convenience to the customers. At present, the Bank
offers Multi Branch Banking and Internet Banking facility to its
customers in 346 branches. The Bank also has 255 branches under CBS
covering 60% of its business. The Bank has at present 161 ATMs of
its own, besides the tie-up with CashTree and NFS network by virtue
of which Bank's current 3.7 lac card holders can access more than
30,000 ATMs all over the country. The Bank's card-holders can also
use ATMs and POS Terminals across all global outlets carrying VISA
logo. The Bank also is going to launch Cash Management and Online
Share Trading Services soon. Speaking about
the Bank's performance, Shri P.K Gupta, Chairman & Managing Director
briefed that during the half year ended 30th September 2007, the
Bank has achieved a total business of Rs.61,963 crores clocking a
y-o-y growth of 26.9%. Bank's Net Profit stood at Rs 233 crore
registering a growth of 43.4% over the corresponding period last
year. Bank's Capital Adequacy Ratio stood at a healthy level of
13.92% as on September 2007. The Bank has added 43 branches during
the half year ended 30th September 2007, to raise the Branch Network
to 1368, which stands at 1391 as on date. Shri Gupta informed that
to augment its Non Interest Income, the Bank will continue to
leverage its network for distribution of third party products like
bancassurance, mutual funds and government business.
Shri A.V. Muralidharan, CMD of ECGC informed
that ECGC is the 5th largest credit insurer of the world in terms of
coverage of national exports. ECGC is recognized as a specialized
institution by Insurance Regulatory Development Authority operating
exclusively in the field of credit insurance. For the benefit of the
exporters and Banks ECGC has now started issuing customized specific
covers to the banks and exporters termed as tailor made policies.
ECGC has now widened its marketing channels through Bancassurance.
ECGC operates through five regional offices and 51 branch offices
all over India to service exporters and banks. ECGC is striving to
strengthen relationships and improve its delivery service to its
customers. |
