UCO Bank full form is United Commercial Bank. UCO Bank is a central government-owned bank that was established in 1943. It has had its share of ups and downs throughout the years, but it remains one of India’s most successful banks today with total assets worth ₹ 3.24 lakh crore as documented by 2020 data – ranking 80 on Fortune India 500 list.
- UCO Bank full form is United Commercial Bank.
- Established in the year 1943.
- UCO Bank is a commercial bank and a Government of India Enterprise.
- Shri Atul Kumar Goel – MD & CEO
- Shri Ajay Vyas – Executive Director
- Its Board of Directors comprises government officials from the Government of India and RBI.
- More than 3000 Service Units distributed across India.
|Full form(UCO)||United Commercial Bank|
|Tagline||Honours Your Trust|
|Headquarters||Kolkata, West Bengal, India|
|Products||1. Consumer banking|
2. corporate banking
3. finance and insurance
4. investment banking
5. mortgage loans
6. private banking
7. wealth management
|Number of employees||22,450 (approx).|
Is UCO a government bank?
- Established in 1943.
- Headquartered at Fort, Mumbai.
- UCO Bank is a public sector bank.
- The bank has the largest branch network among all banks in India.
- UCO Bank offers various banking products such as loans for residential or commercial properties, auto loan facilities and many more to its customers.
- The bank also provides financial services like wealth management and insurance to its customers through subsidiaries.
- The bank has a network of 3,078 branches and 2,564 ATMs across the country.
- They have a customer base of over 13 million customers.
- It is one of the largest banks in India by assets and deposits.
- UCO Bank provides banking services to corporate as well as retail customers through its various products and services like savings accounts, current accounts, fixed deposit account etc., loans for commercial purposes like working capital finance, export credit financing etc., project financing including infrastructure projects such as power plant projects for generation of electricity from renewable energy sources; housing finance; trade finance; foreign exchange business (including remittances) and merchant acquiring business (credit cards).
- The bank also offers other financial products like mutual funds under UTI Mutual Fund banner which are managed by UTI Asset Management Company Limited (UTIMCL), insurance through joint venture with New India Assurance Company Ltd.; life insurance; pension fund management service on behalf of Government Employees Pension Fund Corporation Ltd.; depository participant providing clearing & settlement facilities for securities traded on stock exchanges in India.
Who started UCO Bank?
The United Commercial Bank was born in 1943 after India’s independence from Britain, and it became a thing of legend. The bank began as an idea conceived by G D Birla . Soon enough this new enterprise took shape with its registered office at Kolkata (then known as Calcutta).
Is UCO Bank Safe?
- United Commercial Bank is one of the oldest banks in India.
- The bank offers a wide range of banking services including personal, commercial, agricultural and rural banking.
- UCB was rated A by ICRA for its sound financial position.
- UCB has been recognized as one of the most trusted banks in India.
- They offer competitive interest rates with attractive deposit schemes and loans to suit your needs.
Is UCO a good bank?
- United Commercial Bank has a good customer service department.
- The bank’s interest rates are competitive with other banks.
- United Commercial Bank is a good bank because they offer numerous services.
- They have a variety of products to choose from, such as checking and saving accounts, loans, mortgages, credit cards, investments.
- All the employees at this bank seem very well-trained and professional – you can tell that they know what they’re doing.