Union Bank of India inaugurates its first branch in London

Reshma Trilochun Monday 16th March 2015 07:16 EDT

On 13th March, the Managing Director of the 95 year old Union Bank of India, Arun Tiwari visited the UK to inaugurate their first branch in London. Arun Jaitley was also a chief guest at the inauguration.

On speaking about opening the bank in the UK and about further opportunities, Arun Tiwari stated, “Britain, if you ask me honestly as a banking person, we don't look at London as just a place to do business. To us back in India, London or Great Britain is a gateway of global financial services; therefore, we are here.” Tiwari also added that he doesn't aim to just cater to Indians from the Indian diaspora, but aims to do business with the locals in Britain as well. He also hopes to open more branches in the UK in the near future.

On asking him about how he forayed into banking, Tiwari answered, “Back in india, the education system for a long time was not job oriented. Having said so, there was a process to get into the banking sector. You have written exams, you have interviews; if you get through both, you get the job. Whether there's a background of accountancy or a science graduate, if you cross those two hurdles, you're in. and if I look back, having been in this industry for 36 years, to be retiring from the top post, which is possible, I think for the industry and for me both was not the wrong choice. For them to select me and for me for joining this industry.”

On describing whether he has faced any challenges in banking, he described banking as “Symphony.” He adds, “the best part of banking services is you have that connect with the people. The kind of gratification which you see in the eyes of your customer, that is the real reward for the organisation and the individual who deals with such situations. I don't think that there are challenges. If there are no challenges, life is too dry. There must be challenges; it raises your bar of efficiency.”

Further on, Tiwari also spoke about how reputed the Union Bank of India is and how he would be desirous of this bank when he used to work for another company. Such was the prestige of the Union Bank of India. “It has that kind of brand equity back in India and what out tagline says, 'Good people to bank with'. It absolutely is.”  

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