The Kolkata-based bank, which has 1,799 branches in the country, aims to close down 30 this year, 40 in 2002 and 30 in 2003. Uco Bank's decision comes a year, after it reported its first net profit in 10 years, and at a time when the Union government is expected to announce special assistance for the bank, along with United Bank of India and Indian Bank, the two other weak outfits.

In Kolkata, where Uco has 290 branches, five will be closed and merged. They are Bondel Road (to be merged with Broad Street), CR Avenue branch (to be merged with Jorasanko branch), Canal West Road Branch (to be merged with APC Road branch), Posta Bazar Branch (to be merged with Strand Road branch) and Khalasitola (to be merged with Dharmatala Street branch). The merger of the Bondel Road and CR Avenue branches will be effective from February 9, 2001, that of Khalasitola from February 10 and that of Canal West Road and Posta Bazar branches from February 15.

Highly placed Uco Bank sources told The Financial Express that the major branches that have been idenfied for closure during 2001, include Burrabazar, Bhowanipur and Ganesh Chandra Avenue branches in Kolkata, Lamington Road and Thakurduar branches in Mumbai, Sadar Bazar branch in New Delhi, Ravivarpet branch in Pune, Shashtri Nagar branch in Chennai, Narola branch in Ahmedabad and Frezer Road in Patna. The sources said that out of the 30 branches that the management has planned to close down in 2001, at least 10 will be Kolkata-based. Uco Bank has recently closed down its Chandni Chawk branch in New Delhi. It is learnt that among the branches that have been closed or have been identified for closure, some were making profits.