India: UTI Bank’s sales subsidiary opens office in Bangalore
UBL Sales Ltd., a wholly owned subsidiary of UTI Bank Ltd. has opened its first branch office at Bangalore. Shri S. Chatterjee, Chairman of the Subsidiary Company & Executive Director of UTI Bank graced the Branch Inauguration ceremony.
UBL Sales will market asset products such as retail loans and credit cards of UTI Bank and will be launching its operations at 42 locations across the country by March’07, hiring around 3,500 sales staff for marketing the financial asset products of UTI Bank.
The subsidiary company shall set up an effective sales model that will attract a better quality of sales personnel, optimize sales force productivity and provide better control & monitoring of the sales effort vis-?-vis the prevailing DSA model. On this occasion, Shri S. Chatterjee said “UTI Bank by way of its nationwide presence and considerable retail customer base, is in a position to offer and cross-sell various retail products to its existing customers. The creation of the subsidiary company is in alignment with UTI Bank’s strategy to provide a significant thrust to the sales of its retail asset products and establish itself as a significant player in the retail-financing segment. The subsidiary company, being a sales outfit, will concentrate solely on driving sales of various products to the existing & new customers with a view to significantly thrust its retail assets portfolio.” Shri Sanjay Silas, Managing Director, UBL Sales Ltd said “The objective of the subsidiary will be to build competitive advantage in the marketing of credit cards and retail loans through skilled and trained manpower, effective geographical reach covering high potential & less serviced centers, specialized business processes to build efficiencies and adopting best practices & benchmarking with the relevant markets. ” –www.theasianbanker.com (September 29 2006)–