United Bank of India

United Bank of India is one of the major commercial banking institutions in India. It is a public sector bank with headquarters at Kolkata. The bank draws a majority of its business from the eastern states of India, particularly West Bengal.

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United Bank of India: Company Information

United Bank of India is the outcome of the conglomeration of four banks in the year 1950:

·        Comilla Banking Corporation

·        Bengal Central Bank

·        Comilla Union Bank

·        Hooghly Bank

In 1969, the Government of India nationalized United Bank of India, along with 13 other banks. In the following years, the bank expanded its business, particularly in Eastern and South-Eastern India. During the 1970s, it acquired Hindustan Mercantile Bank and Narang Bank of India to extend its customer reach and market share.

United Bank of India played a key role in promoting rural banking services in India. It provided essential infrastructure for the establishment of Regional Rural Banks, located in the states of West Bengal, Manipur, Tripura and Assam. Also, the bank converted mobile bank branches into brick and mortar branches.

United Bank of India is considered largest lending partner for the India tea industry.

United Bank of India: Business and Branches

Over the years, United Bank of India has made considerable efforts to develop sound modern banking infrastructure. It has launched an electronic fund transfer system (EFTS) across all branches. As of 2009, the bank has 28 regional offices and over 1,400 branches across the nation. The bank own 164 ATM locations. It is also a member of the CashTree ATM sharing initiative, which allows United Bank customers to make transactions through ATMs of partnering banks. Other members of Cash Tree include:

 

·        Bank of India

·        Union Bank of India

·        Dena Bank

·        Syndicate Bank

·        Indian Bank

·        Yes Bank[br]

According to the data for the financial year ended in March 2008, United Bank has total income of Rs1,093.90 lakhs, with total assets standing at Rs54,281 lakhs.

United Bank of India caters to individual, corporate, non-resident Indian (NRI) and enterprise clients. Its core banking services include savings, deposits, loans and current accounts. The bank has specialized priority sector lending products for both agriculturists and small and medium enterprises (SME).

The bank also offers internet banking services through select branches.