Joshi has been with this Satara-based private bank since November 1990. Since then, the bank's deposits have gone up from Rs 441 crore to Rs 4,349 crore while advances went up from Rs 237 crore to Rs 2,358 crore as on March 31, 2000. United Western has also expanded its capital from Rs 2.99 crore to Rs 29.89 crore. The bank's owned funds stand at Rs 236.04 crore.

Joshi's has been spearheading the bank's foray into the mutual funds and insurance sector. United Western's UWB Mutual Funds are scheduled for a January 2001 launch and awaiting all clearance from regulatory bodies. For the forays into the insurance business negotiations for a three-way tie up are underway. There are plans also to expand the capital base. Considering these plans, the board has proposed that Joshi be made the non-executive chairman.

ST Gadre, who is currently executive director of the bank is most likely to take charge as the CEO from November 1, 2000. Fifty seven-year-old Gadre joined the United Western Bank in January 1998 as executive director. Prior to this, Gadre was with the Bank of India for 19 years and his last posting was as general manager and zonal manager, Gujarat Zone.