UTI Bank to increase branches in Gujarat to 110 by year end

Private sector bank UTI Bank is set to enhance its banking network in Gujarat by the end of the current financial year.

The bank's first branch commenced operation at Ahmedabad on April 2,1994, and plans to open over three branches in Gujarat by the end of the current financial year, taking the total number of branches to over 110 in Gujarat out of the total number of 311 branches across the country.

The bank opened its new branch at Patan district on Tuesday. "Gujarat is an important market for us and we are planning to open two branches in Palanpur and Junagadh soon. The branch at Patan marks another step towards the extensive consumer banking focus that we are providing across the country and reinforces our commitment to bring superior banking services, market by convenience and closeness to customers," said P J Nayak, chairman and managing director, UTI, on Tuesday.

The bank was promoted in 1994 by Unit Trust of India, Life Insurance Corporation of India and General Insurance Corporation of India and its four subsidiaries. It is among the first private sector banks in India and obtained the certificate of incorporation on December 3, 1993, and certificate of commencement of business on December 14, 1993.

The has a network of 236 branches all over India, with 75 extension counters and over 1,461 automated teller machines across-the-country. The bank has completed computerised and networked through V-SAT.

The bank branches spread across more than 144 cities and towns.

"The bank is committed to achieving the highest level of efficiency through professional competence, state of the art technology and growing range of products," said Nayak.

The bank's centralised database enables customers to operate their accounts from anywhere in the country. Apart from offering attractive interest rates on deposits, the bank has introduced housing, vehicle, education, and personal loans.