The Kolkata-based Uco Bank plans to complete the process of migration of all its branches in Orissa to the Core Banking Solution (CBS) platform by the end of the current fiscal. While 79 branches out of 182 branches in the state have been CBS compliant, the remaining branches will achieve the status by 31 March 2010, a senior executive of the bank said.
“We have already migrated 79 branches in Orissa to CBS platform and the process will be completed by 31 March 2010”, N Sambasivarao, zonal manager (Bhubaneswar zone), Uco Bank said. Sambasivarao said, the zone recorded 37.76 percent growth in business by the end of September.
The priority sector lending was Rs 878 crore which was 65.71 percent of the total advance made by the bank. Similarly, the lending of the bank to agriculture reached Rs 408 crore which comes to about 30.54 per cent against the government’s guideline of 18 percent.
He said, Bhubaneswar zone of the bank had a credit-deposit ratio of 55 percent by end of September which is likely to reach 60 percent by the end of this month. Four more branches are proposed to be opened at Bhubaneswar, Chhatrapur and Paralakhemundi during the current fiscal. This will take the number of branches of the bank in Bhubaneswar zone to 73, he added.
