UTI Bank on an expansion spree

Visakhapatnam, May 22, 2006

To open more branches in Andhra Pradesh

UTI Bank said it will be expanding its banking operations by opening more branches in Andhra Pradesh. Hemant Kaul, President of Retail Banking at UTI said at a press conferance that the Bank intends to open about 40 - 50 percent branches in rural and semi-urban regions. All together about 100 branches would be opened during the year.

The Bank is also drawing its strategy to make foray into Hong Kong, Shanghai and Middle East (more likely in Dubai) Banking industry. Kaul said that UTI Bank will soon begin offering Credit Cards, Hyderabad to start with. He said that their Debit Cards has got good response from the public.

Kaul said that the Bank has a branch in Dwarakanagar and that wealth management services are on the cards. The Bank will be opening branches at Adilabad, Bapatla, Gudivada, Machilipatnam, Proddutur and Srikakulam.

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