About
UCO Bank was formerly known as United Commercial Bank. It was established in 1943 in Kolkata. UCO bank is a major government-owned commercial bank and it is ranked 1860 on the Forbes Global 2000 list. The bank operates over 4,000 service units and its 49 zonal offices are spread across India. It also runs 2 overseas branches in Hong Kong and Singapore. UCO Bank's headquarters is on BTM Sarani, Kolkata.
Listing and Revenue
UCO Bank is listed on both BSE and NSE.
| Revenue | ₹ 18,005.55 crore |
| Operating Income | ₹ 4,835.60 crore |
| Net Income | ₹ -2,436.83 crore |
| Total Assets | ₹ 2,35,908.15 crore |
Products and Services
UCO Bank takes care of the financial and banking needs of its customers by providing a bunch of services including credit cards, deposit accounts, loans, and debit cards. It also offers NRI and MSME services.
History
G. D. Birla established United Commercial Bank Limited in 1942 by the Indian capital. It was completely owned and managed by Indians. The bank started its operations with a head office in Kolkata. It was launched with a paid-up capital of ₹1 crore and an issued capital of ₹2 crores. UCO Bank also opened 14 branches simultaneously with the launch.
It opened its first overseas branch in 1947 in Rangoon. Branches in Singapore, Hong Kong, London, and Malaysia were opened in 1951, 9152, and 1953 respectively.
In 1963 the Government of Burma nationalised United Commercial Bank's 3 branches and it became People's Bank No. 6. The Government of India nationalised United Commercial Bank on 19 July 1969 along with 13 other large banks.
Acquisitions
On 15 September 1967, Jalpaiguri Banking and Trading Corporation voluntarily transferred its assets and liabilities to United Commercial Bank. In 1991, it took over United Asian Bank.
Awards and Recognitions
UCO Bank received Special Award under National Payments Excellence Awards 2017 in recognition of excellent performance in various products of NPCI.
UCO BANK has won Special Award by National Payments Corporation of India, in the ‘National Payments Excellence Awards 2016’ on March 08, 2017 in Mumbai.
UCO Bank has also been awarded with Skoch Order of Merit Award -2016 for Financial Inclusion for the best performance among Indian banks.