UCO Bank plans to open 100 mobile branches

The year-long expansion will enable the bank to provide low-cost services all over the country.

Last 6 January, UCO Bank Chairman and Managing Director S K Goel said the bank "will launch a full-fledged mobile branch equipped with ATM facility at Amethi on Jan 26.

"The scheme will envisage setting up of 100 such branches across the country within a year," Goel added in a report in Business Standard.

He told reporters at the bank's 67th foundation day that the bank's purpose of such move is not only to expand its branches, but to achieve maximum financial inclusion.

Goel said the bank's growth in advances was 22.05 percent and deposit 19.77 percent as of 31 December 2009 during the period when its business grew by 20.70 percent.