United Bank of India (UBI), which came out with an IPO in early 2010, might explore the possibility of coming out with an FPO after two years, UBI chairman and managing director Bhaskar Sen said.
"At the moment, the bank is well capitalised to grow at 20% to 25% for the next two years. Going forward, we will have to evaluate other options," Sen told reporters on the sidelines of a Ficci Banking Conclave here today.
To a query on whether the bank would consider a follow-on offer, Sen said that could be a possibility.
After the IPO, the government's holding in the bank stood at 85.48%. As per the rules, the government's stake in public sector banks should not go below 51%.
Sen said the bank was looking at a credit growth of 20% this fiscal.
In the current financial year, the bank will hire 700 officers and clerks, he said.