State-run lender UBI today said it is hopeful of achieving 18 per cent growth

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in loans disbursed during the current fiscal.

"The RBI has a projection of 16 per cent for the current fiscal. I think it is quite possible to achieve 18 per cent credit growth," United Bank of India Chairman and Managing Director Bhaskar Sen told reporters here.

Most of the state-run banks have expressed confidence to achieve 18-20 per cent credit growth in the current fiscal, despite a low demand in the industry.

United Bank today got listed at the Bombay Stock Exchange with a 17 per cent premium at Rs 77 against the issue price of Rs 66 per share. On NSE, the shares were listed at Rs 74.9, a premium of 13.48 per cent.

Sen said the bank expects to receive Rs 550 crore capital infusion from government, whose stake in UBI has now come down to 84.2 per cent from 100 per cent.

"Last year, we received Rs 250 crore from the government. This year, we expect to receive Rs 550 crore capital from the government by end of this month," Sen said.

Finance Minister Pranab Mukherjee had announced Rs 16,500-crore recapitalisation programme, which would help these lenders to meet their Tier I (equity) capital requirement.