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UCO Bank, formerly United Commercial Bank, is an Indian public sector bank, and financial services government owned body headquartered in Kolkata. It is a medium sized public sector bank in India and ranked 1948 in Forbes Global 2000 list of year 2018 & ranked 80 on the Fortune India 500 list in 2020. During FY 2024–25, its total business was 5.13 lakh crore. The market capitalisation of bank is 41,305 crore (2025).
UCO Bank's headquarter is in BTM Sarani, Kolkata which is making it the only Government of India owned bank in the east India. the bank had 4,000 plus service units & 43 zonal offices spread all over India. It also has two overseas branches in Singapore and Hong Kong.
UCO bank is one of the special bank which facilitates the mechanism of Rupee-Rial and Rupee-Ruble trade of India between Iran & Russia respectively. It become the first bank to open a unique "lockless" branch in Shani Shinganapur in Maharashtra to show the respect to general belief and faith of the people on lord Shani.
After World War II, United Commercial Bank opened several overseas branches. The first, in 1947, was in Yangon. 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.Turnell (2009), p.226.
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.
This international network is further augmented by correspondent arrangements with leading Banks at all important world centres in various countries.
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.
The Government of India nationalisation 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 Bank (UCO Bank), 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.
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.
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 PLC, which caused confusion in the international banking arena.
In 1991, CIMB acquired United Asian Bank; in time CIMB came to own Bank of Commerce.
In 1998, UCO closed its London branch. Bank of Baroda acquired the assets and liabilities, but not the personnel, who were made redundant.
Following the amalgamation of Paschim Banga Gramin Bank into West Bengal Gramin Bank, now sponsored by Punjab National Bank, UCO Bank no longer has any Regional Rural Bank under its sponsorship as of 01 May 2025.
The domestic branches include 6 Flagship Corporate Branches, 7 Asset Management Branches, 4 Service Branches, 1 Central Pension Processing Center, and 1 Integrated Treasury Branch. Furthermore, there are 25 MCU branches, 43 Retail Loan Hubs, 43 SME & Agriculture Loan Hubs, 12 Integrated Loan Hubs, and 70 Currency Chests functioning across the country, typically attached to major city branches at various centers.
Additionally, the Bank holds an active SWIFT membership and maintains correspondent banking relationships with several international banks to facilitate global trade finance and cross-border remittances.
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