Union Bank achieves 97% of ACP target

PATNA: Union Bank of India Executive Director (ED) S S Mundra on Monday said that though Union Bank of India had only 84 branches in Bihar, it has done remarkably well in achieving its target set in the annual credit plan (ACP) for the last three financial years.
Talking to reporters here, Mundra said the Bank achieved 97.5% of the ACP target during 2010-11, 121.68% in 2009-10 and 96.35% in 2008-09.
Of its 84 branches in Bihar, he said, 30 branches were located in rural areas, 21 branches in semiurban areas and 33 branches at urban centres. The bank was fulfilling the role of lead bank in Samastipur and Khagaria districts, where its achievement under the ACP was 100%.
Mundra said the Union Bank of India had total deposit of over Rs 2,654 crore with advances of Rs 672.45 crores as on December 31, 2011, in Bihar. Besides, the bank had also financed Rs 411.54 crore to two sugar mills in Lauria and Sugauli in East Champaran, he said and added that together with this advance, the CD ratio of the bank stood at 40.83%.
Regarding Kisan Credit Cards, Mundra said the contribution of the bank under KCC was satisfactory as it had extended financial assistance to 22,114 farmers till the end of January, 2012, in Bihar and efforts were on to achieve 100% target by March end.