UCO Bank expects to disburse more loans this quarter

December 19th, 2008 - 7:43 pm ICT by IANS  

Kolkata, Dec 19 (IANS) State-owned UCO Bank expects 25 percent growth in loan disbursement in the third quarter of the current fiscal, a top company official said here Friday.”Since October, our loan portfolio has grown by 25 percent on a year-on-year basis. The third quarter is nearing its end and we expect to post that growth in October-December,” UCO Bank executive director of B.M. Mittal told reporters on the sidelines of a seminar.

Mittal said he was bullish about the deposit collection by the banking industry in the current financial year.

“My basic raw material is savings. People are not going to the equity market or putting their money in bonds but are depositing money with banks,” Mittal said.

The collective deposit generation in 2008-09 by commercial banks would be 1 to 2 percent more than the 2007-08 level, he said.

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