Hyderabad: The Prakasamnagar branch of the Union Bank of India (UBI) was reopened for operations post rationalisation with Begumpet branch, on Thursday. The rationalised branch, which was inaugurated by Dr. N Satyanarayana, Commissioner and Director of Municipal Administration and mission director MEPMA, Telangana, is a branch with a total business of Rs 570 crore.
The inaugural was presided by Ravindra Babu, General Manager, Union Bank, N V S Yoganand, Dy. Zonal Head, Hyderabad Zone, Bhaskar Rao, Regional Head, UBI, Punjagutta, among others.
“We have a target to achieve 11 per cent growth, by acquiring a total of Rs 856 crore in the current financial year,” said Ravindra Babu, adding, “The region has a business of Rs 17,327.74 crore and we are aiming a business of Rs 20,800 crore, at a growth rate of 20 per cent.”
The Chief Guest, Dr. N. Satyanarayana recalled his long association with the erstwhile Andhra Bank and said, “Bankers are functioning like financial doctors of the society. Bankers also have the unique opportunities to render services to increase economic and financial growth.”