UCO Bank, formerly United Commercial Bank, is an Indian public sector bank, established in 1943 in Kolkata.[3] During FY 2020–21, its total business was 3.24 lakh crore. Based on 2020 data, it is ranked 80 on the Fortune India 500 list. UCO Bank was ranked 1948 in Forbes Global 2000 list of year 2018.[4] As of 30 March 2017 the bank had 4,000 plus service units 49 zonal offices spread all over India. It also has two overseas branches in Singapore and Hong Kong. UCO Bank's headquarters is on BTM Sarani, Kolkata.

UCO Bank
FormerlyUnited Commercial Bank
Financial services
Founded6 January 1943; 80 years ago (1943-01-06)
FounderG. D. Birla
HeadquartersKolkata, ,
Area served
Key people
Ashwani Kumar[1]
(MD & CEO)
ProductsConsumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management
RevenueIncrease 18,166.42 crore (US$2.3 billion)(2021)[2]
Increase 5,420.62 crore (US$680 million) (2021)[2]
Increase 167.03 crore (US$21 million) (2021)[2]
Total assetsIncrease253,336.1092 crore (US$32 billion) (2021) [2]
OwnerGovernment of India [2]
Number of employees
22,012 (March 2021)[2]
SubsidiariesPaschim Banga Gramin Bank
Capital ratio13.74% (2020)[2]


Ghanshyam Das Birla, founder of UCO Bank

G. D. Birla, an eminent Indian industrialist, during the Quit India movement of 1942, conceived the idea of organising a commercial bank with Indian capital and management, and the United Commercial Bank Limited was incorporated to give shape to that idea. The bank was started with Kolkata as its head office with an issued capital of 2 crores, of which 1 crore was actually paid up. Birla was its chairman; the Board of Directors included eminent personalities of India drawn from many fields. The bank opened 14 branches simultaneously across India.[citation needed]

After World War II, United Commercial Bank opened several overseas branches. The first, in 1947, was in Rangoon. Branches in Singapore (1951), Hong Kong (March 1952), London (1953), and Malaysia followed. In 1963 the Burmese government nationalized United Commercial Bank's three branches there, which became People's Bank No. 6.[5]

On 15 September 1967, Jalpaiguri Banking and Trading Corporation (JBTC) which had been established in Jalpaiguri in 1887 (or 1889; accounts differ), made a voluntary transfer of its assets and liabilities to United Commercial Bank. JBTC had only one office and specialised in lending against mortgages on tea gardens.[6]

The Government of India nationalised United Commercial Bank on 19 July 1969. The nationalised bank continued the operations of the overseas branches in London, Singapore, and Hong Kong. However, Malaysian law forbade foreign government ownership of banks in Malaysia. Therefore, United Commercial, Indian Overseas Bank, and Indian Bank contributed their operations in Malaysia to a new joint-venture bank incorporated in Malaysia, United Asian Bank, with each of the three parent banks owning a third of the shares. At the time, Indian Bank had three branches, and Indian Overseas Bank and United Commercial Bank had eight between them.[7]

An act of parliament changed the bank's name to UCO Bank in 1985, as a bank in Bangladesh existed with the name "United Commercial Bank", which caused confusion in the international banking arena.[8]

In 1991, Bank of Commerce acquired United Asian Bank; in time CIMB came to own Bank of Commerce.[citation needed]

In 1998, UCO closed its London branch. Bank of Baroda acquired the assets and liabilities, but not the personnel, who were made redundant.[citation needed]

Current market positionEdit

As on 31 March 2021, government share-holding in the bank was 94.44%. For FY 2020-21, it registered ₹167 crore net profit. Branch expansion started at a fast pace, particularly in rural areas, and the bank achieved several unique distinctions in Priority Sector lending and other social uplift activities. To keep pace with the developing scenario and expansion of business, the Bank undertook an exercise in organisational restructuring in the year 1972. This resulted in more functional specialisation, decentralisation of administration and emphasis on the development of personnel skills and attitudes. Side by side, whole-hearted commitment to the government's poverty alleviation programmes continued and the convenorship of the State Level Bankers' Committee (SLBC) was entrusted to the Bank for Odisha and Himachal Pradesh in 1983.[citation needed]


UCO Bank Head Office at Kolkata

Board of directorsEdit

As of August 2021, the UCO Bank Board of Directors has six members:[9]

  • Shri Shri Soma Shankar Prasad (MD & CEO)
  • Shri Ajay Vyas (Executive Director)
  • Shri Ishraq Ali Khan (Executive Director)
  • Dr Sanjay Kumar (Director)
  • Dr. (Smt) Tuli Roy (Director)
  • Shri K. Rajivan Nair (Director)

Regional managementEdit

The governance of the Bank all around the nation's respective regional areas is managed by a network of 42 Zonal Offices present in major as well as crucial parts of the country.[10]


The training of newly recruited as well as present staff is overseen by seven training colleges around India:[11]


The Bank's Regional presence includes 3,078 branches and 2,564 ATMs. The near future will see a growth in the number of ATMs and Branches.[12]

International presenceEdit

Besides providing inland banking services through its vast network of branches in India, UCO Bank has a vital presence in the financial markets outside India. UCO Bank presently has four overseas branches in two important international financial centres in Singapore and Hong Kong.[13]

UCO Bank has international presence for over 60 years now.[citation needed]

The Bank's Singapore Operations commenced on 21 April 1951 with the opening of the Singapore Main branch and subsequently Serangoon branch was opened in "Little India" on 7 March 1959. The international linkage from Singapore is supported by a large number of Indian branches network through the Integrated Treasury Branch, Mumbai. Other branches in India also provide international banking facilities through Authorised Branches of the bank.[citation needed]

This international network is further augmented by correspondent arrangements with leading Banks at all important world centres in various countries.[14]

Non-banking subsidiariesEdit

The bank has requested the RBI for an approval for new Non-Banking entities under its command. The new entities would ensure a complete market foothold.[15]

Logo and mottoEdit

  • The logo of UCO bank consists of a pair of clasped hands covered with an octagonal structure. It has been coloured blue since the organisation's inception, blue representing the Bank's national responsibility. The background has remained yellow since the beginning as well.[citation needed]
  • The motto UCO Bank is "Honours your Trust".[16]
  • The UCO bank Logo has resemblance to logo of leading South African Life Insurance company Sanlam. Sanlam has tie up with Shriram Group in India who provide Insurance to passengers travelling in Indian Railways[citation needed]

Major market competitionEdit

UCO Bank's major competitors have always been State Bank of India, Punjab National Bank, Bank of Baroda, HDFC Bank, ICICI Bank, Axis Bank, and Bank of India. The earlier years saw a limited presence of rivals who were mostly public sector entities. In the recent years, the surge of private banks has broadened the spectrum. The liberalisation of the economy may bring foreign banks, which could intensify inter-bank competition for commercial and well-to-do retail customers.[17]

See alsoEdit

Citations and referencesEdit


  1. ^ Chakraborty, Dwip Narayan. "UCO Bank-এর ম্যানেজিং ডিরেক্টর এবং CEO পদে নিযুক্ত হলেন অশ্বনী কুমার". Bengal Xpress (in Bengali). Retrieved 3 June 2023.
  2. ^ a b c d e f g "Annual Report of UCO Bank" (PDF).
  3. ^ "India's Most Trusted Brands 2013". Archived from the original on 28 August 2013.
  4. ^ "India's Most Trusted Brands 2014". Archived from the original on 2 May 2015.
  5. ^ Turnell (2009), p.226.
  6. ^ Basu (1939), p. 140.
  7. ^ Lee (1990), p. 50.
  8. ^ Bandyopadhyay (2016).
  9. ^ "OfficialWebsite". ucobank.com. Retrieved 11 August 2021.
  10. ^ "Departments". ucobank.com. Retrieved 27 February 2013.
  11. ^ "Names of Training Centres with their Email IDs". ucobank.com. Retrieved 27 February 2013.
  12. ^ "UCO Bank Eyes Gujarat, UP, South". thehindubusinessline.com. 27 April 2011. Archived from the original on 25 November 2020. Retrieved 26 November 2020.
  13. ^ "UCOBankOfficialWebsite". ucobank.com. Retrieved 28 February 2013.
  14. ^ "OfficialWebsite". ucobank.com. Retrieved 27 February 2013.
  15. ^ "UCO Bank to open its Financial Subsidiary". rupeetimes.com. Retrieved 27 February 2013.
  16. ^ "Slogan of UCO Bank". slogandb.com. Retrieved 27 February 2013.
  17. ^ "Foreign Banks' Entry into India". The Times of India. timesofindia.indiatimes.com. Archived from the original on 25 May 2019. Retrieved 27 February 2013.


  • Bandyopadhyay, Tamal (2016). Bandhan: The Making of a Bank. Random House India.
  • Basu, Saroj Kumar (1939). Industrial Finance in India: A Study in Investment Banking and State-aid to Industry with Special Reference to India. University of Calcutta.
  • Lee, Sheng-Yi (1990). The Monetary and Banking Development of Singapore and Malaysia. NUS Press.
  • Turnell, Sean (2009) Fiery Dragons: Banks, Moneylenders and Microfinance in Burma. (NAIS Press). ISBN 9788776940409

External linksEdit