United Bank of India
) () is a state-owned financial services
company headquartered in Kolkata
. Presently the bank has a three-tier organizational setup consisting of its Head office in Kolkata, 31 Regional offices and 1600 branches spread all over India. However, its major presence is in eastern India
. Due to a common acronym (UBI), which it shares with Union Bank of India
, which also has an all-India presence, the public sometimes confuses the two banks.
On March 30, 2009, the Indian government decided to approve the restructuring United Bank of India. The cabinet has approved the government's proposal to investing 2.50 billion rupees in shares by March 31, 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 Datta in 1914 in what is now Bangladesh
), Bengal Central Bank
(founded by Sri J.C. Das in 1918), Comilla Union Bank
(founded by Sri L.B. Dutta in 1922) and Hooghly Bank
(founded by Sri D.N. Mukherjeee 1932).
- 1961 UBI merged in Cuttack Bank and Tezpur Industrial Bank.
- 1969 On 19 July, the Government of India nationalized UBI, along with 13 other major......