04 Jul 2020
DiamondWorld Directory
Home |
Union Bank of India (UBI) plans to expand its retail bullion
UBI '06 gold sales up 125% to 32 tonnes, with 4% market share
By: The Economic Times
Apr 12 2007 12:00AM
Reference: 1279  


The Union Bank of India (UBI) plans to expand its retail bullion and gold coins business after conducting a successful trial run for gold coins in October 2006.

Last fiscal, UBI’s gold sales more than doubled to 32.6 tonnes compared to 14.5 tonnes a year earlier, giving it a 4 per cent market share.

The bank is aiming for a 6 per cent market share this year. “The business potential in gold is huge and we aim to tap this potential,” said Bhaskar Sen, UBI's general manager for treasury and international banking.

“We are in the process of identifying more branches for marketing of gold coins based on market potential,” Sen added. The profit margin on gold coin sales is around 5- to 6 per cent, he stated.

UBI plans to promote gold sales during the Indian festivals of Diwali, Akshaya Tritiya, Vishu, Baisakhi, Bihu, etc., which are major gold-buying occasions.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
HouseAd_Trade Fair
Search News by City
Kosher 23460
Kosher 23460
Recent Issue
Kosher 23460
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 26637
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 298
GJEPC Chairman Interview
Views: 23851
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 30863
Promo for IJ Awards 2012 at NDTV Profit
Views: 45099
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 57340
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 18249
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 43713
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 41975
Finestar Diamonds
Kosher 250300
Member of:
Supporter of: