UCO Bank launches sales force in Gujarat

UCO Bank launched small enterprise and retail sales force in Gujarat on Wednesday. The sales force will market bank's deposit products such saving accounts, current accounts, fixed deposits and other advance products.

"We have already launched sales force in Tamil Nadu, Maharashtra, West Bengal and Andhra Pradesh. After launching our sales force in Gujarat, our target is to increase the total business of Gujarat branches from Rs 3,540 crore in 2005-06 to Rs 4,250 crore in 2006-07," said V Sridhar, CMD, UCO Bank.

He further said that bank has a total business of Rs 92,361 crore in the country and targets to increase it to Rs 1,06,33 crore. "We have 1,754 branches spread across the country including 71 in Gujarat," added Sridhar.

According to Sridhar, UCO Bank has recorded impressive growth of 29.61 per cent in priority sector advances and achieved targets of lending to the agriculture and SME sectors during the previous financial year.

The bank is also moving towards the implementation of core banking solutions in the current financial year.

"We have plan to initially offer CBS in six branches and after couple of months it will be implemented in 25 other branches," he said.