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UCO Bank to Open 200 New Branches by 2023

Published on March 18, 2022
Current Context: UCO Bank is in process of opening new branches and the plan is to open 200 branches over the country till 2023.
UCO Bank to Open 200 New Branches by 2023
  • The CEO is to inaugurate an ATM, current chest van, and a currency sorting machine at the bank’s Dwarakanagar branch.
  • The bank was earning profit since the last 6 to 7 quarters.
  • Rs. 200 crore profit by September end.
  • Rs. 310 crore profit by December end.
  • The bank is having a Capital Adequacy Ratio of 14.56%.
  • The bank was offering home loans at an interest rate of 6.5%.
  • The main focus of the bank was on retaining sector loans like home loans, where the NPAs would be less, loans to MSMEs and agriculture.
  • The Bank is expecting to achieve 15% growth.
  • The Bank has the highest provision coverage ratio of 91.3%.
  • Recently, UCO Bank has around 3000 branches in India and 2 overseas.

Question: 

Q.1 Which bank is to open its 200 branches by 2023?
a. None of the Below
b. Bank of Baroda
c. UCO Bank
d. Axis Bank
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