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Union Bank of India (UBI; BSE532477) is one of the largest government-owned banks of India (the government owns 63.44% of its share capital). It is listed on the Forbes 2000, and has assets of USD 13.45 billion. All the bank's branches have been networked with its 7,642 ATMs as on 31 March 2018. Its online Telebanking facility are available to all its Core Banking Customers - individual as well as corporate. As of 31st March, 2018, UBI has 4301 branches. Four of these are overseas in Hong Kong, Dubai International Financial Centre, Antwerp, and Sydney (Australia). UBI also has representative offices at Shanghai, Beijing and Abu Dhabi. Lastly, UBI operates in the United Kingdom through its wholly owned subsidiary, Union Bank of India (UK).

Union Bank of India
Public company
Traded as BSE532477
Industry Banking, Financial services
Founded 11 November 1919; 98 years ago (1919-11-11)
Headquarters Mumbai
Key people
Shri Rajkiran Rai G.
(MD & CEO)
Gopal Singh Gusain & Manas Ranjan Biswal (EDs)
Products Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management
Revenue Increase 32,198.80 crore (US$4.5 billion)(2016)[1]
Decrease 5,722 crore (US$800 million) (2016)[1]
Decrease 1,351.60 crore (US$190 million) (2016)[1]
Total assets Increase404,695.90 crore (US$56 billion) (2016) [1]
Owner Government of India
Number of employees
35,514 (2016)[1]
Capital ratio 10.56% (2016)[1]



Union Bank branch in GITAM University, Visakhapatnam

Union Bank of India (Union Bank) was registered on 11 November 1919 as a limited company in Mumbai and was inaugurated by Mahatma Gandhi. At the time of India's Independence in 1947, Union Bank of India had only four branches - three in Mumbai and one in Saurashtra, all concentrated in key trade centres. After Independence, the growth is accelerated and by the time the Indian government nationalized it in 1969, it had 240 branches. Shortly after nationalisation, Union Bank of India acquired Belgaum Bank, a private sector bank established in 1930 that had itself merged in a bank in 1964, the Shri Jadeya Shankarling Bank (Bijapur; incorporated on 10 May 1948). Then in 1985 Union Bank of India acquired Miraj State Bank, which was established in 1929, and which had 26 branches. In 1999 the Reserve Bank of India requested that Union Bank acquire Sikkim Bank in a rescue after extensive irregularities had been discovered at the non-scheduled bank.

Union Bank began its international expansion in 2007 with the opening of representative offices in Abu Dhabi, United Arab Emirates, and Shanghai in the People's Republic of China. The next year, Union Bank established a branch in Hong Kong, its first branch outside India. In 2009, Union Bank opened a representative office in Sydney, Australia.

At present, the offshore banking operations of Union Bank of India are led by its branches in Hong Kong and newly opened branch in Dubai at Dubai International Financial Centre.

Highlights for FY 2016-2017Edit

  • Total Deposits of ₹ 3,78,392 crore as on March 31, 2017, an increase of 10.41%.
  • Gross Advances of ₹ 3,01,684 crore as on March 31, 2017, an increase of 8.63%.
  • Share of CASA deposit improved to 34.44% as on March 31, 2017 from 32.35% as of March 31, 2016.
  • In Advances as of March 31, 2017, RAM sector (Retail, Agriculture & MSME) increased by 15.19% and contributes more than 53.80% of domestic loan book.
  • Non Interest Income increased by 36.70% from ₹ 3,632 crore to ₹ 4,965 crore.
  • Core Fee Income increased from ₹ 1,879 crore to ₹ 2,068 crore.
  • Net Interest Income increased by 7.08% from ₹ 8,314crore to ₹ 8,903 crore.
  • Operating Profit for FY 2016-17 increased by 29.85% to ₹ 7430 crore from ₹ 5722 crore in FY 2015-16.
  • Capital Adequacy Ratio (CRAR) under Basel III stood at 11.79% as on March 31, 2017 against the minimum regulatory requirement of 9.00%. Common equity tier 1 ratio stood at 7.71%.
  • Pan India presence- Network of 4282 (including 4 overseas branches) and 7518 ATMs as on March 31, 2017.
  • Financial Year 2016-2017 Annual Report PDF


  • IBA Best Technology Bank of the year 2015-16[2]

See alsoEdit


  1. ^ a b c d e f "Annual Report of UCO Bank" (PDF).
  2. ^ "UNION BANK OF INDIA WINS IBA BANKING TECHNOLOGY AWARDS 2015-16". 11 March 2017. Retrieved 6 April 2018.