The Multi-State Schedule Bank UCB of Maharashtra, G P Parsik Sahakari Bank recently set foot in Karnataka thereby expanding its business in the third state of the country.
Opening 84th and 85th branches of the urban cooperative bank in Nipani and Belgavi respectively in the state of Karnataka, its management vowed to achieve a business target of over Rs 10 crore from these branches till the next financial year”.
The branches were inaugurated by its Chairman Ranjit Gopinath Patil and Bank Vice-Chairman Narayan Gajanan Gawand. CEO Sadanand Krishna Nayak, board members and several dignitaries were present on the occasion.
Speaking in the opening ceremony, Chairman of the UCB Ranjit Gopinath Patil said “We are feeling proud to announce that we have extended our area of operation in Karnataka and ready to cater to the needs of people living in the state.
“The branches are equipped with modern facilities including ATMs, Mobile Banking, Internet Banking, Locker Facility and many more such facilities. The Bank has always been in the forefront digitalizing to increase facilities and services for its customers. These are Internet Banking, SMS Banking, Mobile Banking, Missed Call Banking, etc”, Patil claimed.
The Bank is expected to reach a total number of 101 branches and business mix of 10,000 crore by 2020, with its strong capital base being the premise of its network expansion.
Talking to Indian Cooperative correspondent Sadanand Krishna Nayak, Chief Executive Officer said “We have entered the market of Karnataka. With the opening of this branch now we are in three states including Maharashtra and Goa. It was the last branch which was inaugurated in this financial year”, he added.
“Now, we are having a network of 85 branches in three states. We have received the license for opening 10 new branches in the current financial year from the Reserve Bank of India. The target will be achieved before June”, Nayak claimed.
Readers would recall that recently the bank has opened its 82nd branch at Dharampeth and 83rd branch at Lokmat Chouk, Nagpur in Maharashtra, as reported in these columns.
The G P Parsik bank was established on 21st May 1972. It has a business mix of about 5,700 crore. The bank earned a net profit of Rs 47 crore in the last financial year.