The Telegraph
Since 1st March, 1999
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Bonanza for UBI account holders

Calcutta, March 8: United Bank of India (UBI) today launched its mobile banking services for savings and current account holders of select branches. Anandrao V. Adsul, Union minister of state for finance (expenditure, banking and insurance), inaugurated the ‘United mobile banking’ facility. Customers will now be able to access their accounts through mobile handsets using SMS facility.

Chairman and managing director of UBI Shri Madhukar said 160 branches would be brought under the network by June this year. “At present, the services that would be available include mini statement of last three transactions, balance query, cheque status query, deposit account maturity query and cheque book request,” he said. The facilities will be accessible even when the branch concerned is closed.

Madhukar said the facility was in line with the bank’s commitment towards introducing more and more technology-based customer services to improve quality of service.

Speaking at the inaugural ceremony, Adsul said the bank’s performance was commendable keeping in mind the bank’s past performance.

UBI has increased its net profit 25 times from Rs 5.8 crore to Rs 147.84 crore in 2002-03. Return on equity was up from 1.89 per cent to 36.7 per cent, while return on assets was up from 0.00 per cent to 1.13 per cent. Gross NPA was down from 21.5 per cent to 16.09 per cent.

“We have already brought 46 branches under the wide area network. Another 192 branches are being connected,” said Madhukar. UBI has nearly 1300 branches, with almost 51 per cent of customers from rural areas.

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