Saikat Das
Moneycontrol.com
State-owned Union Bank of India (UBI) is trying to strengthen its recovery process for bad loans and aims to lower its gross non-performing asset (NPA) ratio to 3% as against 3.33% in the Oct-Dec quarter. Concern over asset quality is the main reason why UBI shares have underperformed the benchmark Nifty by a wide margin over the last year. Compared to a 4.4% drop in the index, UBI shares have fallen over 28%.
In an interview to Moneycontrol.com S S Mundra, the Executive Director of the bank explained how the lender is gearing up for a better performance in the fourth (Jan-March) quarter.
Meanwhile, UBI plans to increase its focus on retail lending as the domestic economy matures. The bank
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