Short Bio
Originally known as United Commercial Bank, UCO Bank is a public sector bank in India that was founded in Kolkata in 1943. Their entire revenue in FY 2020–21 was 3.24 lakh crore. It is listed at number 80 on the Fortune India 500 list according to 2020 statistics. In the 2018 Forbes Global 2000 list, UCO Bank came in at number 1948. The bank had 49 zonal offices and more than 4,000 service units as of the end of March 2017. Additionally, it has locations in Singapore and Hong Kong. In Kolkata, on BTM Sarani, is where UCO Bank is headquartered.
Overview
Company Name: | UCO Bank |
Also Know as: | United Commercial Bank |
Type: | Public |
Industry: | Banking and Financial Services |
Founded: | 1943 |
Founders: | Ghanshyam Das Birla, Dr. Bidhan Chandra Roy |
Headquarters: | Kolkata, West Bengal, India |
Area Served: | India |
Revenue: | INR 20,764 crore (2020-21) |
Net Income: | INR -2,436 crore (2020-21) |
Number of Employees | Over 22,000 (2020-21) |
Website: | https://www.ucobank.com/ |
History
One of India’s largest public sector banks and one of the oldest is UCO Bank, originally known as United Commercial Bank. It was established in 1943 with the intention of provide banking services to the Indian populace by industrialist Ghanshyam Das Birla and eminent physician Dr. Bidhan Chandra Roy. UCO Bank has developed over the years into a dependable financial organisation, meeting the banking requirements of people, companies, and industries all over the nation.
Services
To meet the various demands of its clients, UCO Bank provides a broad range of banking and financial services. In addition to loans, credit cards, debit cards, digital banking, wealth management, and foreign banking, the bank also offers savings and current accounts, loans, and credit cards. In order to better serve its diverse customer base, UCO Bank also provides specialised services for industries including agriculture, MSMEs (Micro, Small, and Medium Enterprises), and NRI (Non-Resident Indian) banking.
Founder
Dr. Bidhan Chandra Roy, a well-known physician and statesman, and renowned industrialist Ghanshyam Das Birla formed UCO Bank together. Their foresight and leadership were important in the founding and expansion of the bank. Dr. Bidhan Chandra Roy’s dedication to social welfare and Ghanshyam Das Birla’s business sector skills have formed UCO Bank’s ideals and contributed to its success.
Achievements
Significant accomplishments and accolades in the banking sector have been made by UCO Bank. Awards have been given to the bank in recognition of their social, digital, and customer service initiatives. The dedication of UCO Bank to financial inclusion and its support of the nation’s socioeconomic growth have received high praise.