United Bank of India

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United Bank of India
यूनाइटेड बैंक ऑफ इंडिया
Traded as
Industry Banking
Financial services
Founded 1950; 67 years ago (1950)
Headquarters Kolkata, India
Key people
Pawan kumar Bajaj (MD & CEO), Shri K. V. Rama Moorthy (ED), Shri Ashok Kumar Pradhan (ED)
Products Finance and Insurance
Consumer Banking
Corporate Banking
Investment Banking
Investment Management
Private Equity
Revenue Decrease9,936.67 crore (US$1.5 billion) (2016)[1]
Increase 2,428 crore (US$380 million) (2015)[2]
Decrease-281.96 crore (US$−44 million) (2016)[1]
Total assets Decrease123,027.57 crore (US$19 billion) (2015)[2]
Owner Government of India
Number of employees
15,192 (2015)[2]
Capital ratio 10.08% (2016) [1]
Website www.unitedbankofindia.com

United Bank of India (UBI; Hindi: युनाइटेड बैंक ऑफ इंडिया) is an Indian government-owned financial services company headquartered in Kolkata, India. Presently the bank has a three-tier organisational setup consisting of its head office in Kolkata, 35 regional offices and 2005 branches spread all over India. However, its major presence is in Northern India. The bank has three full-fledged overseas branches, one each at Kolkata, New Delhi and Mumbai. United Bank of India now aims to expand its international activities.

On 30 March 2009, the Indian government approved the restructuring of United Bank of India.[3] The government proposed to invest 2.5 billion rupees in shares by 31 March and another 5.50 billion in the next fiscal year in Tier-I capital instruments. The move is part of the Indian government's program to improve the capital base of the state-owned banks.


UBI was the result of the merger in 1950 of four Bengali banks: Comilla Banking Corporation (founded by Narendra Chandra Dutta in 1914 in what is now Bangladesh), Bengal Central Bank (founded by Sri J.C. Das in 1918), Comilla Union Bank (founded by Shri Indu Bhusan Dutta (IAS), in 1922) and Hooghly Bank (founded by Sri D.N. Mukherjeee 1932). All four had suffered runs in December 1950 after the failure of the Nath Bank. The Reserve Bank of India assisted the banks in amalgamating to form United Bank of India.

In 1961, UBI merged with Cuttack Bank (est. 6 June 1913) and Tezpur Industrial Bank (est. 6 June 1918, as the first commercial bank in Assam province). Four years later, in 1965, the Government of Pakistan took over the bank's branches in Pakistan.

On 19 July 1969, the Government of India nationalised UBI, along with 13 other major Indian commercial banks. At the time of nationalisation UBI had only 174 branches. In 1973, UBI acquired Hindustan Mercantile Bank (est. 1944). In 1976, UBI acquired Narang Bank of India, which had been established in 1943 in Narang, Gujarat.

Awards/ certifications received by the Bank[edit]

Year Award and Recognition
2006 National Award for the second best performance in financing small scale units by Ministry of Small Scale Industries, Government of India
2007 Golden Jubilee Award for the best bank in north east zone for excellence in the field of khadi and village industries from the Ministry of MSME, Government of India
2008 National Award for the best bank for excellence in field of Khadi and village industries for east and north east zones from the Ministry of MSME, Government of India
2009 National Award under Prime Minister Employment Guarantee Programme in north east zone from the Ministry of MSME, Government of India

Controversy over Non-performing Assets (NPAs)[edit]

In February 2014, an RBI-appointed forensic audit by Deloitte found serious lapses in the Non-performing asset detection system of the bank.[4] It is yet to be established whether this oversight on the part of the bank was deliberate or unintentional.

The bank has reported a loss of Rs. 1,238 crore during Q3 of the 2013-14 fiscal year, resulting in a downgrade of its tier-II bonds by ICRA, an associate of Moody's Investor Service.[5] United Bank of India's reported NPA of 10.82% is the highest in percentage among listed banks in India.[6]

Delivery channel based products[edit]

See also[edit]


  1. ^ a b c "Untitled Page". www.bseindia.com. 
  2. ^ a b c "UBI Annual Report 2014-2015" (PDF). 
  3. ^ "United Bank of India Gets Indian Government Boots". 
  4. ^ Gill, Simran. "Is bad loan menace at United Bank of India a cover-up after serious lapses?". The Economic Times. Retrieved 14 February 2014. 
  5. ^ "NPA worries lead to UBI bond rating downgraded". Deccan herald. Retrieved 14 February 2014. 
  6. ^ "UBI reports Rs 1,238-cr loss". Business Standard. Retrieved 14 February 2014. 

External links[edit]