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United Bank Of India
United Bank Of India is a nationalized Indian bank having its administrative headquarters in Kolkata. The bank has a pan-Indian presence with branches present in most of the Indian states. Total income of United Bank Of India (UBI) is Rs. 1093.90 lakhs ending Financial Year March 31, 2008. Total assets of the bank in the same period is computed to be Rs. 54,281 lakhs.
History
United Bank Of India was established in 1950. It was formed by the amalgamation of 4 existing banks: Bengal Central Bank Ltd, Hooghly Bank Ltd, Comilla Banking Corporation Ltd and Comilla Union Bank Ltd. All of the merged banks were based in present-day Bangladesh and eastern India. United Bank Of India presently has 1406 branches. Most of the bank branches are concentrated in the eastern Indian states.
Rural Focus
United Bank Of India has played a pivotal role in promoting rural banking. UBI has supported the formation of 4 Regional Rural Banks (RRB). The RRB's are located at Assam, West Bengal, Tripura and Manipur. UBI had also introduced mobile banking services to the riverine Sundarban area of West Bengal. The floating mobile branches were replaced with brick and mortar branches. United Bank of India is also known in Indian trade circles as the 'Tea Bank'. This nickname is due to the bank's substantial contribution to the Indian tea industry. United Bank Of India is the biggest monetary lender to the tea industry.
Modern Banking Practices
United Bank Of India follows modern banking practices and has implemented the Electronic Fund Transfer System or EFTS. The efficient functioning of the bank is supplemented by the many ATMs open 24 hours a day.
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