UBI to set up branch in Sydney, arm in London

Jul 04 2014, 08:42 IST
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SummaryPublic sector lender Union Bank of India (UBI) is planning to spread its network to the UK and Australia.

Public sector lender Union Bank of India (UBI) is planning to spread its network to the UK and Australia.

“We are planning set up a branch in Sydney and an overseas subsidiary in London to strengthen our global operations,” said Union Bank CMD Arun Tiwari.

The bank currently has representative offices in Shanghai, Beijing, Abu Dhabi and Sydney. It also has three overseas branches in Hong Kong, Dubai and Belgium.

On domestic operations, Tiwari said: “Our focus for this year will be on the RAM (retail, agriculture and MSME) sectors.” He said the bank has registered a 21% y-o-y growth in the priority sector, including 23.53% in agriculture and 21.55% in MSME advances.

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