Union Bank of India (2024)

About Union Bank of India

Union Bank of India is one of the leading public sector banks of the country. The Bank is a listed entity, and the Government of India holds 74.76 percent in Bank’s total paid-up capital. The Bank, having its headquarters at Mumbai (India), was registered on November 11, 1919 as a limited company. On 1st April 2020, Andhra Bank and Corporation Bank were amalgamated into Union Bank of India. Our Bank has a network of 8400+ domestic branches, 8900+ ATMs, 75800+ employees and 18,900+ BC Points. The Bank’s total business as of 31st December 2023 stood at Rs. 20,68,429 crore, comprising Rs. 11,72,455 crore of deposits and Rs. 8,95,974 crore of advances. The Bank also has 2 branches overseas at Dubai International Financial Centre (UAE) & Sydney (Australia); 1 banking subsidiary at London (UK); 1 banking joint venture in Malaysia; 4 para-banking subsidiaries (domestic); 2 joint ventures and 1 associate - Chaitanya Godavari Gramin Bank. Union Bank of India is the first large public sector bank in the country to have implemented 100% core banking solution. The Bank has received several awards and recognition for its prowess in technology, digital banking, financial inclusion, MSME and development of human resources.

Corporate and Registered Office :

The registered as well as corporate headquarters of Union Bank of India is in the prestigious Nariman Point area of Mumbai, the commercial capital of India.

Board of Directors :

Union Bank of India’s Board members include eminent individuals with a wealth of experience in areas like, economy, rural and agriculture sector, banking and financial services, commerce & accountancy, strategy, Business development, analytics, risk management, central banking, merger & acquisition

Link to Board of Directors

Link : Details of all the Senior executives at Corporate Office

Locate Us :

Link to Branch Locator

Capital Structure :

The Bank has authorized share capital of ₹ 10,000 crore. As on 29th February 2024, the Bank has issued, subscribed and paid-up equity capital of Rs. 7,633.61 Crores, constituting 7,63,36,05,607 equity shares of face value Rs.10/- each. The Bank’s shares are listed on the National Stock Exchange of India Limited and the BSE Limited.

Social Media Connects :

History :

Union Bank of India was established on 11th November 1919 with its headquarters in Mumbai. It was promoted by Seth Sitaram Poddar.

The Head Office building of the Bank in Mumbai was inaugurated by Mahatma Gandhi, the Father of the nation in the year 1921, and he said on the occasion:

"We should have the ability to carry on a big bank, to manage efficiently crores of rupees in the course of our national activities. Though we have not many banks amongst us, it does not follow that we are not capable of efficiently managing crores and tens of crores of rupees." His prescient words anticipated the growth of the bank that has taken place in the decades that followed.

Union Bank of India – Oldest Logo

Union-Bank-of-India Old Logo

Union Bank of India Logo

Union Bank of India Logo – Post Amalgamation

Logo:

The logo features two interlocking U’s in red and blue, stands for the consumer and the bank. The two U’s stand for union and the integrity, security and strength, which Union Bank of India stands for. The colour blue represents commitment, while red is symbolic of the passion that exists at Union Bank of India

Tagline : Good people to bank with

Did you know :

• The First safe deposit vault was formally opened on 22 April 1939.
• At the time of Independence in 1947 .Union Bank of India had 4 Branches.
• In 1964, Bank’s 100th Branch opened at Irinjalakuda in Kerala. 3 Pvt sector Banks Perunbavoor Bank Ltd, Catholic Union Bank Ltd, Nadar Mercantile Bank Ltd were taken over.
• In 1969 when Bank was nationalized Mr F.K.F Nariman became its first custodian.
• In 1974 Bank was assigned 8 Lead districts – 4 in UP, 2 each in Kerala and MP for assisting rural development.
• In 1975 Belgaum Bank Limited, a private sector Bank was taken over by Union Bank of India adding as many as 40 Branches.
• In 1978 Bank became the first Nationalised Bank to publish Annual Report in Hindi.
• In 1982 Bank received Government’s National Award from President of India for outstanding export performance during 1979-80.
• In the post reforms era Bank doubled itself in business from 1993 to 1996.
• In 1999 Sikkim Bank Ltd with 8 Branches merged with the Bank.
• In 2002 Public Issue of 18 Crore shares oversubscribed by 5.22 times. Shares listed on BSE and NSE.
• In 2003 Bank was among the 1st Public Sector Banks to initiate Anytime and Anywhere Banking along with Telebanking.
• In 2004 the Bank was among the 7 new entrants to Forbes - 2000 list of world’s biggest and most powerful companies.
• In 2007 Bank opened record number of 56 new branches across the country in a single Day. Bank opened its first Bio-metric ATM. Bank opened India’s highest altitude ATM at 14300 ft in Serethang, Nathulla, Sikkim.
• In 2008 Bank became the 1st Large nationalized Bank to achieve 100 % CBS networking. Bank unveils new logo and launches re-branding initiative. U-Mobile Launched –Becomes 1st Public sector Bank to launch Mobile Banking Facility in 2008.
• In 2009 Bank sponsored Rewa Siddhi Gramin Bank becomes the first RRB in the country to achieve 100 % CBS connectivity.
• In 2012 Bank inaugurates First Talking ATM specially made for the benefit of visually challenged.
• In 2013 Bank opened record 111 branches on its foundation day 11.11.2013.
• In 2014 Bank opened 96 branches on its foundation day i.e 11.11.2014.
• In 2015 Bank launched its UK subsidiary in London.

Amalgamation :

In August 2019 Union Bank of India has been selected by Government of India as Anchor Bank for the amalgamation of Andhra Bank, Corporation Bank into Union Bank of India. The amalgamation took place on 1st April 2020. Our proven history of reliability stems from excellence in customer service and trust built over combined legacy of 300+ years. The amalgamation will help us to offer best-in-class products through wider network of branches spanning each and every state of India.

Technology at Core of Operations :

On the technology front the Bank has taken various pioneering initiatives and has the distinction of 1st Public sector Bank to complete 100% computerization of its branches. We have a dedicated team of fully equipped professionals to manage more than 100 in-house applications. Many innovative products are developed using the technology platform to offer an array of choices to customers, adding speed and convenience to transactions. Technology has also enabled the Bank to derive substantial cost reduction while creating the requisite capacity to handle the ever increasing volume of business.

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Energetic and Committed Workforce :

Behind all these achievements is a dedicated team of staff, which is truly cosmopolitan in its composition. Many generations of members of staff have contributed in building up the strong edifice of the Bank. The present team of over 75000+ members of staff distinguishes itself with its customer centricity, willingness to learn and adherence to values enabling us to be recognized as a caring organization where people enjoy their work and relationship with customers.

Investor Relations :

All the latest, in-depth information about Union Bank of India’s financial performance, business initiatives.

Link to Investor Relations

RECRUITMENT :

All the information related to Openings for recruitment in one of the Top 5 Public Sector Banks of India

Link to Recruitment

Corporate Social Responsibility :

Union Bank of India is engaged in social and economic development at the national level. The Bank works closely with Union Bank Social Foundation Trust across diverse sectors and programs of social welfare.

Union Bank of India’s CSR Policy

Link : Union Bank Social Foundation Trust Activities

ESG Practices :

To know more about the latest ESG initiatives of Union Bank of India, please download the following document: