About the bank image

Union Bank of India is India’s one of leading public sector banks listed on the Indian stock exchanges, with the Government of India holding 83.49% in the Bank’s total share capital. Founded in 1919, we have had a long legacy of serving our stakeholders. Recently, Andhra Bank and Corporation Bank were amalgamated into our fold with effect from 1st April, 2020. We also have 3 branches overseas at Hong Kong, Dubai International Financial Centre (UAE) & Sydney (Australia); 1 representative office in Abu Dhabi (UAE); 1 banking subsidiary at London (UK); 4 parabanking subsidiaries (domestic); 2 other joint ventures (including in life insurance business) and 1 associate – Chaitanya Godavari Gramin Bank.

We are 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.

16.05 crore

Customers

8,870

Domestic Branches

11,200+

ATMs in Service

8,216

Business Correspondent Points

75,201

Employees

₹10,32,392 crore

Global Deposits (31st March 2022)

₹7,16,408 crore

Global Gross Advances
(31st March 2022)

Our Genesis

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.”

– Mahatma Gandhi (1921)

mahatma gandhi

His prescient words predicted the growth of the Bank that has taken place in the decades that followed.

Services & Solutions

We provide various banking products and services. The Bank operates through four segments:

  • Treasury Operations

  • Retail Banking Operations

  • Corporate and Wholesale Banking, and

  • Other Banking Operations

The bank offers savings and current accounts; term and recurring deposits; and demat and online trading accounts. It also provides retail loans, including home, vehicle, education, and personal loans; loans against the property; and loans for pensioners, as well as products and loans for micro, small, and medium enterprises. In addition, the company offers mutual funds, life, non-life, health, and general insurance products, and tax saving deposits; government saving schemes, tax collection services, pension products, and departmentalized ministries accounts; short term, long term, and other credit for agricultural/ssi/ tertiary sectors; and safe deposit locker and cheque collection services.

Furthermore, the bank provides corporate loans comprising covid emergency line of credit, trade finance, working capital, lines of credit, project financing, and channel finance; debt structuring/ restructuring, loan syndication, structured finance, mergers and acquisition advisory, and private equity services; cash management, ecgc cover, and foreign exchange services, as well as derivatives; export and import finance services; nri banking services; and treasury and other products, and remittance services. Additionally, the company offers app, internet, self-service, atm, and sms banking services; point of sale terminals and immediate payment services; and combo, debit, credit, gift, prepaid, and payroll cards.