Union Bank of India is looking forward to get a 25% loan growth in the coming fiscal year. The Bank is also expecting to have a reasonable 22% deposit growth in the financial year 2010-11. This has been informed by one of the top official of the State owned and run Bank.

Chairman and Managing Director of Union Bank, Mr. MV Nair has informed that the bank is planning to minimize its NPAs this year. It is expecting to restraint the gross non-performing assets below 2.10% in the continuing year. It was around 2.20% in the fiscal year 2010. Apart form those; the Bank is also targeting to register a net interest margin in excess of 3% in the current year.

The net interest margin of Union Bank was 2.71% in the preceding fiscal year. Moreover the low-cost deposits are reported to be 31.73% now while the Bank is planning to take share of this to an impressive 35% in the year 2012. Mr. Nair has also anticipated a good margin in this fiscal year.