Date:15/03/2006 URL: http://www.thehindubusinessline.com/2006/03/15/stories/2006031502351900.htm

Back UTI Bank plans four more branches in TN

Our Correspondent

Madurai , March 14

UTI Bank has plans to open seven more branches in south zone, of which, four would be located in Tamil Nadu.

The four new branches will come up in Vellore, Paramakudi, Nagarcoil and an additional branch at Chennai. With the opening of two more branches, respectively, at Dindugul in the State and at Tumkur in Karnataka today, the total number of branches has moved up to 340.

With 95 extension counters and 1,870 ATMs, the bank is spread across 248 locations in the country, said the Executive Director of the bank, Mr S. Chattarjee, while speaking to Business Line here today.

Stating that the bank has plans to introduce its own credit card in about three months' time, the Executive Director said the bank has been consistently maintaining number one position in growth among the new generation private sector banks. The total volume of business stood at Rs 47,000 crore and the capital adequacy is more than the mandatory norm, at 11 per cent. The NPA is below 1 per cent. The bank has entered the market for Tier-II bonds for Rs 500 crore, he mentioned.