UBI to set up asset management company

 
“The process of establishing the asset management company is at an advance stage. The new company will soon be incorporated. We are working out the business plan. It might happen early next year”, Bank Executive Director S C Kalia told reporters here.

Kalia said UBI would launch the second phase of its customer-centric Navnirman programme to become one of the top three public sector banks in the country by 2012.

He said the bank was targeting to achieve Rs 2,85,000 crore business by March 2010. As on September 30, 2009, the operating profit of the bank stood at Rs 810 crore and net profit at Rs 505 crore.

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