Union Bank opens Field GM's office

Union Bank opens Field GM's office

Union Bank of India’s new Field General Manager’s Office was inaugurated in Bangalore on Oct 17, 2007 by M.V. Nair, C&MD. Prior to the opening of this new FGMO (the ninth FGMO of the Bank) the entire Branch network of 4 southern states i.e., Kerala, Tamilnadu, Kamataka and Andhra Pradesh was under the supervision and control of Field General Manager’s Office at Chennai.

An official release stated that the rapid growth of the economies of the States of Andhra Pradesh and Karnataka had resulted in growing business opportunities as well as banking needs of various segments of customers. In order to cater to the needs of an expanding customer base, the bank decided to establish an exclusive Field General Manager’s Office at Bangalore.

The new FGMO has five regional offices at Bangalore, Belgaum, Hyderabad, Vijayawada and Visakhapatnam, covering 238 branches spread across 46 districts of the States of Karnataka and Andhra Pradesh. In order to move towards a more customer centric model the functions of the FGMO and the Regional Offices have been redefined. Technology has enabled the bank to centralize many business processes. These centralized processes will be controlled by FGMOs which aim to function as “Centres of Excellence.” The Regional Offices will be closer to the market place and the customer by focusing on marketing efforts and ensuring customer satisfaction through the branches under them.

The newly created Zone has a business mix of Rs. 12,223 crores (Deposits - Rs.5,625 crores and Advances Rs.6,598 crores) as of 30th September 2007 with a Credit deposit ratio of 117.29%. Retail Lending comprises nearly 30% of the total advances of the zone while Agricultural advances account for 25%. Advances to SME sector form 8% of total advances.

On future plans, the Field General Manager’s office in Bangalore plans to open 24 new branches by March 2008 (13 in Andhra Pradesh and 11 in Karnataka), for which the licences have already been obtained from RBI. With the establishment of the FGMO, the business mix of the Zone is likely to be in the region of Rs 14,000 crore by the end of March 2008

Union Bank of India was one of the first Public Sector Banks to put a CBS network in place. The Bank had won the award for the “Best IT User” instituted by NASSCOM in the BFSI sector in the month of June 2007. The Bank has 145 branches in the Zone under the Core Banking solution network which offers Any Time Anywhere Banking to its customers. By the end of current fiscal, all the branches of the Zone will be linked under the CBS network. The Zone has 118 ATMs with plans to add an additional 40 by the end of March 2008.

(For more details call 22896602.)

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