UBI to set up first overseas bank in Bangla

Kolkata-based United Bank of India (UBI) is going to set up its first overseas branch in Bangladesh soon, according to UBI’s chairman & managing director Parkash Singh.

He was speaking at an interactive session with the members of Bharat Chamber of Commerce (BCC) here Wednesday on ‘New Vistas in Investment Opportunities: Focus West Bengal’. ‘‘Lot of our customers in eastern and northeastern regions are doing business with Bangladesh. The setting up of the branch there would benefit them considerably,’’ Singh said. Asked when the branch would be set up, he said, ‘‘Hope to do it shortly’’.

He said the bank will increase its credit- deposit (C-D) ratio from the present 49 pc to 52 pc in a couple of years.