 Honours Your Trust | |
 UCO Bank Head office, BTM SaraniKolkata | |
| Formerly | United Commercial Bank |
|---|---|
| Company type | Public |
| NSE: UCOBANK BSE: 532505 | |
| ISIN | INE691A01018 |
| Industry | Banking Financial services |
| Founded | 6 January 1943; 83 years ago (1943-01-06) |
| Founder | G.D. Birla |
| Headquarters | UCO Bank Head Office, BTM Sarani,Kolkata,, India |
Number of locations | India: 3,302 Branches 2,522 ATMs International: 2 Branches in 2 countries 1 Representative Office (Tehran,Iran) |
Area served | Worldwide |
Key people | Ashwani Kumar[1] (MD & CEO) |
| Products | Consumer banking,corporate banking,finance and insurance,investment banking,mortgage loans,private banking,wealth management |
| Revenue |  ₹29,473.00 crore (US$3.5 billion)(2025)[2] |
| ₹6,037.31 crore (US$710 million) (2025)[2] | |
| ₹2,444.99 crore (US$290 million) (2025)[2] | |
| Total assets | ₹362,481.08 crore (US$43 billion) (2025)[2] |
| Total equity | ₹31,017.57 crore (US$3.7 billion) (2025)[2] |
Number of employees | 21,049[3] |
| Parent | Ministry of Finance (Government of India (90.95%))[2] |
| Capital ratio | 17.12% (2025)[2] |
| Website | uco |
UCO Bank, formerlyUnited Commercial Bank, is anIndian public sector bank, andfinancial servicesgovernment owned body headquartered inKolkata.[4] It is a medium sizedpublic sector bank in India and ranked 1948 inForbes Global 2000 list of year 2018 & ranked 80 on theFortune India 500 list in 2020.[5] 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 onlyGovernment of India owned bank in the eastIndia. As of 31 March 2024[update] the bank had 4,000 plus service units & 43 zonal offices spread all overIndia. It also has two overseas branches inSingapore andHong Kong.
UCO bank is one of the special bank which facilitates the mechanism of Rupee-Rial and Rupee-Ruble trade ofIndia betweenIran &Russia respectively. It become the first bank to open a unique "lockless" branch in Shani Shinganapur inMaharashtra to show the respect to general belief and faith of the people on lordShani.
G. D. Birla, an eminent Indian industrialist, during theQuit India movement of 1942, conceived the idea of organising acommercial 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 inRangoon. Branches in Singapore (1951), Hong Kong (March 1952),London (1953), andMalaysia followed. In 1963 the Burmese government nationalized United Commercial Bank's three branches there, which became People's Bank No. 6.[6]
The Bank's Singapore Operations commenced on 21 April 1951 with the opening of the Singapore Main branch and subsequentlySerangoon 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.[7]
On 15 September 1967, Jalpaiguri Banking and Trading Corporation (JBTC) which had been established inJalpaiguri 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.[8]
The Government of Indianationalised 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, andIndian 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.[9]
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]
An act ofparliament changed the bank's name to UCO Bank in 1985, as a bank in Bangladesh existed with the nameUnited Commercial Bank PLC, which caused confusion in the international banking arena.[10]
In 1991,Bank of Commerce acquired United Asian Bank; in timeCIMB 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]
Following the amalgamation ofPaschim Banga Gramin Bank intoWest Bengal Gramin Bank, now sponsored byPunjab National Bank, UCO Bank no longer has any Regional Rural Bank under its sponsorship as of 01 May 2025.
As on 31 March 2025, government shareholding in the Bank stood at 90.95%. For FY 2024–25, the Bank registered a net profit of ₹2,444.99 crore, marking a growth of 47.85% over the previous year. The global business of the Bank reached ₹5,13,527 crore, compared to ₹4,50,007 crore as on 31 March 2024, reflecting an increase of 14.12% year-on-year.
The Bank's regional presence includes 3,302 domestic branches as of March 2025. Additionally, the Bank operates 2,613 ATMs across the country.
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.
Besides providing inland banking services through its vast network of branches in India, bank has a vital presence in the financial markets outside India. It presently has 2 overseas branches (one each inSingapore andHongKong) and 1 representative office has been established inTehran,Iran.
Additionally, the Bank holds an activeSWIFT membership and maintains correspondent banking relationships with several international banks to facilitate global trade finance and cross-border remittances.
As of October 2025, the UCO Bank Board of Directors has ten members:[11]
The governance of the Bank all around the nation's respective regional areas is managed by a network of 49 Zonal Offices. These are present in major as well as crucial parts of the country.[12]
The training of newly recruited as well as present staff is overseen by seven training colleges aroundIndia:[13]
Paschim Banga Gramin Bank, aRegional Rural Bank ofWest Bengal, was formerly a subsidiary of UCO Bank with a 35% stake. However, following its amalgamation intoWest Bengal Gramin Bank, which is now sponsored byPunjab National Bank, UCO Bank no longer has any subsidiary bank under its sponsorship.
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