After PNB and BoI, Union Bank to now rationalise branch, ATM networks

The bank began the groundwork in the third quarter and part of the plan will be implemented in the fourth quarter

The Union Bank of India, a public sector lender, is joining the ranks of its counterparts — Punjab National Bank and Bank of India — in rationalising its branch and ATM networks.

The Mumbai-based bank is planning to merge or close down more than 100 branches in urban areas and convert 200 branches in rural areas into outlets.

Rajkiran Rai G, managing director and chief executive, Union Bank, said rationalisation was being done to send positive signals about cost optimisation.

The bank began the groundwork in the third quarter and part of the plan will be implemented