Press Release
United Bank of India pays Rs 46 Crore Dividend to Government of India consecutive for third year
United Bank of India has paid a dividend of Rs 45.97 Crore for the financial year ended March 31, 2008 to the Government of India. Sri P. K. Gupta, Chairman & Managing Director of United Bank of India presented the dividend cheque to the Hon’ble Finance Minister, Sri P. Chidambaram on May 28, 2008 at New Delhi.
United Bank of India has shown a significant improvement in its Business performance over a period of three years from March 2005 to Mach 2008. The
Total Business of the Bank has clocked a growth of 102%
from Rs 37,187 Crore as on Mach 2005 to Rs 75,123 Crore as on Mach 2008. During the same period, the
Deposits have grown by 85.3% from Rs 25,348 Crore to Rs 46,971 Crore whereas the
Advances have grown by 137.8% from Rs 11,839 Crore to Rs 28,152 Crore. As a result, the
Credit Deposit Ratio has improved fro 46.7% to 60% during the three-year period.
The Gross NPA Ratio has sharply declined from 6.14% as on March 2005 to 2.70% as on March 2008. Equally impressive improvement was registered in the
Net NPA Ratio which has declined from 2.43% as on March 2005 to 1.10% as on March 2008.
The Net worth of the Bank has risen significantly from Rs 1596 Crore as on March 2005 to Rs 2661 Crore as on March 2008, registering a growth of 66.7% over the period. The Bank’s
Capital Adequacy Ratio stands at a comfortable level of 11.88% as on March 2008.
Bank’s Business Per Branch has been showing consistent improvement year-over-year and from Rs 28.39 Crore as on Mach 2005, it has improved to Rs 53.62 Crore as on March 2008. The
Business Per Employee has also shown an equally impressive growth from Rs 2.08 Crore as on March 2005 to Rs 4.63 Crore as on March 2008.
Bank has rolled out Core Banking Solution (CBS) at 442 of its branches covering 72% of the total business as on date. Bank’s customers can use more than 20,000 ATMs under NFS Network and CASHTREE arrangement. The Bank provides
Internet Banking facility, christened as UNITED ONLINE at 250 branches along with the facility of e-Payment of Service Tax and Excise Duties, etc.
The Bank has received Awards from Khadi & Village Industries Board for ranking
First in Lending under Rural Employment Generation Programme (REGP) for Eastern and North-Eastern Zones for the year 2006-07. The Bank has set up
Rural Development & Self Employment Training Institutes (RUDSETIs)
at Rajpur, 24-Parganas (South) in August 2007 and at Belur, Howrah in March 2008. The Foundation for the third RUDSETI at Amarkanan, Bankura (West Bengal) has also been laid on 14th April 2008.
With a view to attaining Pan-India presence, the Bank has expanded its branch network to 1401 as on March 2008 as against 1325 as on March 2007. Out of the 76 new branches opened during the year 2007-08, 26 branches are under North India Region of the Bank.
During the current financial year (2008-09), United Bank of India envisages a growth of 20% in its
Total Business to reach at Rs 90,000 Crore with Deposits expected to grow by 18% to reach at the level of Rs 55,500 Crore and
Advances by 22% to reach at the level of Rs 34,500 Crore. The Bank intends to add another 65 Branches to its network to take it to 1466 from 1401 as on March 2008. The Bank would aggressively pursue the roll-out of CBS Branches so as to put 900 Branches covering 92% of its business under Core Banking Solution by March 2009. The Virtual Private Network would cover 950 branches as against 730 as on March 2008.
Our CMD & ED handing over the divdend cheque
to hon'able Union finance minister on 28.05.08
Dated, 28th May 2008 |
