United Bank of India plans to strengthen its presence in the southern and western parts of India, where it is weak at present, Pawan Bajaj, Managing Director and Chief Executive of UBI, said.

Speaking to select reporters after inaugurating the 2018th branch of the bank at Kovaipudur in Coimbatore, he said, “We plan to add another 35 branches before the close of this fiscal, including three link centres (which would function like a regional office) at Indore, Agra and Ludhiana.”

The bank has plans in place to add 51 branches during the current fiscal.

According to Bajaj, UBI would, subject to the banking regulator’s permission, add another 276 branches to its network in the coming fiscal.

To a query on the impact of demonetisation, he said CASA shot up to 48.3 per cent from 42.8 per cent. Deposits rose ₹10,500 crore, post demonetisation. “We have opened over three lakh worker accounts in the last two months and continue to open 200 to 300 accounts every day; we have also placed orders for 10 lakh PoS machines,” he added. Referring to the Tea Conclave that took place at Conoor on Monday, he said, “The outcome has been positive. Our exposure to the tea industry stands at ₹1,000 crore. Post the conclave, we intend to look more seriously at the industry in the South and increase this portfolio to ₹1,200 crore.”

The bank’s gross non-performing assets (NPAs) stand at 15.8 per cent. Bajaj said the bank is looking to initiate and act under Insolvency Act to recover its dues. “A huge chunk falls under the consortium category, pertaining to advances to the corporate sector. “Our share in consortium lending is about 3 per cent. We are looking to enhance the share to 10 per cent, so we have a say in it,” he said.