Friday, May 9, 2008

Union Bank updates business process, plans separate credit verticals

The Union Bank of India is up dating its business process to bring it on fast pace and to achieve the number three position among public sector banks by the end of 2012. Working on the business process re-engineering proposal the bank will be starting separate credit verticals.

Sooner it will be having separate cell for corporate, small and medium enterprises (SMEs), retail (both resource and retail products) and agriculture credit.

"We have decided to have separate verticals for the corporate, SME, retail and agriculture credit for the overall business growth," said L M V Rao, general manager, Union Bank of India.

Rao told the press the bank has identified 21 branches of the bank for high-value corporate credit. These branches will be in contact directly with the head office for faster decision making and disbursal of credit.

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