CleanupBot II: Removed empty portal template using script

2023-08-15T08:19:00Z

Removed empty portal template using script

← Older revision		Revision as of 13:49, 15 August 2023
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	== See also ==		== See also ==
	~~{{Portal\|Banks}}~~
	* [[List of banks in India]]		* [[List of banks in India]]
	* [[United Bank of India (1866-1874)]]		* [[United Bank of India (1866-1874)]]

CleanupBot: /* top */robot: remove incorrect protection templates

2022-01-30T13:47:46Z

top: robot: remove incorrect protection templates

← Older revision		Revision as of 19:17, 30 January 2022
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	~~{{pp\|small=yes}}~~
	{{short description\|Nationalized bank in India}}		{{short description\|Nationalized bank in India}}
	{{Use dmy dates\|date=July 2020}}		{{Use dmy dates\|date=July 2020}}

->MusikBot II: Adding missing protection template (more info)

2021-10-27T11:40:34Z

Adding missing protection template (more info)

← Older revision		Revision as of 17:10, 27 October 2021
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			{{pp\|small=yes}}
			{{short description\|Nationalized bank in India}}
	{{Use dmy dates\|date=July 2020}}		{{Use dmy dates\|date=July 2020}}
	{{Use Indian English\|date=September 2015}}		{{Use Indian English\|date=September 2015}}
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	\| logo = United Bank of India Logo.svg		\| logo = United Bank of India Logo.svg
	\| alt = United Bank of India		\| alt = United Bank of India
	\| type = Nationalized ~~Bank~~		\| type = Nationalized bank
	~~\| fate = [[Merged]] with [[Punjab National Bank]]~~
	\| traded_as =		\| traded_as =
	\| ISIN =		\| ISIN =
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	\| founder = [[Narendra Chandra Dutta]] <br>J.C Das<br>Indu Bhushan Dutta <br>D.N Mukherjee		\| founder = [[Narendra Chandra Dutta]] <br>J.C Das<br>Indu Bhushan Dutta <br>D.N Mukherjee
	\| key_people = Ashok Kumar Pradhan <br> {{small\|(MD & CEO)}}		\| key_people = Ashok Kumar Pradhan <br> {{small\|(MD & CEO)}}
	~~\| defunct = {{End date\|df=yes\|2020\|04\|01}}~~
	\| area_served = India		\| area_served = India
	\| products = [[Finance and ~~Insurance~~]]<br />[[Retail banking\|Consumer ~~Banking~~]]<br />[[Commercial bank\|Corporate ~~Banking~~]]<br />[[Investment ~~Banking~~]]<br />[[Investment ~~Management~~]]<br />[[Private ~~Equity~~]]<br />[[Mortgages]]		\| products = [[Finance and insurance]]<br />[[Retail banking\|Consumer banking]]<br />[[Commercial bank\|Corporate banking]]<br />[[Investment banking]]<br />[[Investment management]]<br />[[Private equity]]<br />[[Mortgages]]
	\| revenue = {{increase}}{{INRConvert\|10945.00\|c}} (2019)<ref name="unitedbankofindia.com"/>		\| revenue = {{increase}}{{INRConvert\|10945.00\|c}} (2019)<ref name="unitedbankofindia.com"/>
	\| operating_income = {{increase}} {{INRConvert\|1412.00\|c}} (2019)<ref name="unitedbankofindia.com">{{cite web\|url=https://www.bseindia.com/bseplus/AnnualReport/533171/5331710319.pdf\|title=UBI Annual Report 2014-2015}}</ref>		\| operating_income = {{increase}} {{INRConvert\|1412.00\|c}} (2019)<ref name="unitedbankofindia.com">{{cite web\|url=https://www.bseindia.com/bseplus/AnnualReport/533171/5331710319.pdf\|title=UBI Annual Report 2014-2015}}</ref>

imported>Sngineer: Add defunct date to infobox

2021-08-04T14:57:47Z

Add defunct date to infobox

New page

{{Use dmy dates|date=July 2020}}
{{Use Indian English|date=September 2015}}
{{Infobox company
| name = United Bank of India
| logo = United Bank of India Logo.svg
| alt = United Bank of India
| type = Nationalized Bank
| fate = [[Merged]] with [[Punjab National Bank]]
| traded_as =
| ISIN =
| industry = [[Banking]] [[Financial services]]
| predecessors = {{ubl|Comilla Banking Corporation|[[Bengal Central Bank]]|Comilla Union Bank|Hooghly Bank}}
| successor = [[Punjab National Bank]]
| founded = {{start date and age|1950}}
| location = [[Kolkata]], [[West Bengal]], India
| founder = [[Narendra Chandra Dutta]] J.C Das Indu Bhushan Dutta D.N Mukherjee
| key_people = Ashok Kumar Pradhan {{small|(MD & CEO)}}
| defunct = {{End date|df=yes|2020|04|01}}
| area_served = India
| products = [[Finance and Insurance]] [[Retail banking|Consumer Banking]] [[Commercial bank|Corporate Banking]] [[Investment Banking]] [[Investment Management]] [[Private Equity]] [[Mortgages]]
| revenue = {{increase}}{{INRConvert|10945.00|c}} (2019)<ref name="unitedbankofindia.com"/>
| operating_income = {{increase}} {{INRConvert|1412.00|c}} (2019)<ref name="unitedbankofindia.com">{{cite web|url=https://www.bseindia.com/bseplus/AnnualReport/533171/5331710319.pdf|title=UBI Annual Report 2014-2015}}</ref>
| net_income = {{decrease}}{{INRConvert|-2316.00|c}} (2019)<ref name="unitedbankofindia.com"/>
| assets = {{increase}}{{INRConvert|151530.00|c}} (2019)<ref name="unitedbankofindia.com"/>
| equity =
| owner = [[Punjab National Bank]] (100%)
| num_employees = 13,804 (2019)<ref name="unitedbankofindia.com"/>
| ratio = 13.00% (2019)<ref name="unitedbankofindia.com"/>
| footnotes =
| homepage = {{URL|http://www.unitedbankofindia.com/}}|
}}

'''United Bank of India''' ('''UBI''') headquartered in [[Kolkata]], has been amalgamated with [[Punjab National Bank]] w.e.f 1st April 2020. The organisational structure of UBI is now same as that of [[Punjab National Bank]].

On 30 March 2009, the Indian government approved the restructuring of United Bank of India.<ref>{{cite web|url=http://abclive.in/abclive_business/united_bank_india_restructuring.html|title=United Bank of India Gets Indian Government Boots|access-date=30 March 2009|archive-url=https://web.archive.org/web/20090408092313/http://abclive.in/abclive_business/united_bank_india_restructuring.html|archive-date=8 April 2009|url-status=dead}}</ref> The government proposed to invest 2.5 billion rupees in shares by 31 March and another 5.50 billion in the next fiscal year in Tier-I capital instruments. The move is part of the Indian government's program to improve the capital base of the state-owned banks.
UBI gets SEBI approval for Rs 1,000 crore equity issue via QIP
On 22 November 2017, United Bank of India (UBI) said it has received SEBI's approval for issue of equity shares worth Rs 1,000 crore by way of institutional placement.

On 1 April 2020, the bank along with [[Oriental Bank of Commerce]] has been merged with [[Punjab National Bank]], making it as the second largest public sector bank in India.<ref>{{cite news |title=All branches of Oriental Bank of Commerce, United Bank of India start functioning as PNB branches |url=https://www.moneycontrol.com/news/business/all-branches-of-oriental-bank-of-commerce-united-bank-of-india-start-functioning-as-pnb-branches-5095141.html |access-date=2 April 2020 |work=Moneycontrol}}</ref>

==History==
[[File:Logo of the defunct Comilla Banking Corporation Limited.png|thumb|upright=0.36|left|Logo of the defunct Comilla Banking Corporation Limited]]
UBI was the result of the merger in 1950 of four Bengali banks: Comilla Banking Corporation (founded by [[Narendra Chandra Dutta]] in 1914 in what is now [[Bangladesh]]), [[Bengal Central Bank]] (founded by Sri J.C. Das in 1918), Comilla Union Bank (founded by Shri Indu Bhusan Dutta (IAS), in 1922) and Hooghly Bank (founded by Sri D.N. Mukherjeee 1932). All four had suffered [[Bank run|runs]] in December 1983 after the failure of the [[Nath Bank]]. The [[Reserve Bank of India]] assisted the banks in amalgamating to form United Bank of India.

In 1961, UBI merged with Cuttack Bank (est. 6 June 1913) and Tezpur Industrial Bank (est. 6 June 1918, as the first commercial bank in [[Assam]] province). Four years later, in 1965, the Government of Pakistan took over the bank's branches in Pakistan.

On 19 July 1969, the [[Government of India]] nationalised UBI, along with 13 other major Indian commercial banks. At the time of nationalisation UBI had only 174 branches. In 1973, UBI acquired Hindustan Mercantile Bank (est. 1944). In 1976, UBI acquired Narang Bank of India, which had been established in 1943 in [[Narang, Gujrat|Narang, Gujarat]].

===Amalgamation===
On 30 August 2019, [[Minister of Finance (India)|Finance Minister]] [[Nirmala Sitharaman]] announced that United Bank and [[Oriental Bank of Commerce]] would be merged with [[Punjab National Bank]]. The proposed merger would make Punjab National Bank the second largest public sector bank in the country with assets of {{INRConvert|17.95|lc}} and 11,437 branches.<ref>{{cite news |title=Bank Merger News: Government unveils mega bank mergers to revive growth from 5-year low |url=https://timesofindia.indiatimes.com/business/india-business/government-unveils-mega-bank-mergers-to-revive-growth-from-5-year-low/articleshow/70911359.cms |access-date=2 April 2020 |work=The Times of India |language=en}}</ref><ref>{{cite web |author=Staff Writer |title=10 public sector banks to be merged into four |url=https://www.livemint.com/news/india/pnb-obc-and-united-bank-to-be-merged-nirmala-sitharaman-1567158678718.html |website=Mint |access-date=30 August 2019 |language=en |date=30 August 2019}}</ref> MD and CEO of UBI, Ashok Kumar Pradhan, stated that the merged entity would begin functioning from 1 April 2020.<ref>{{cite web |title=Merged entity of UBI, PNB, OBC to become operational from April 1, 2020 |url=https://www.businesstoday.in/sectors/banks/merged-entity-of-ubi-pnb-obc-to-become-operational-from-april-1-2020/story/379073.html |website=Business Today |access-date=14 September 2019}}</ref><ref>{{cite web |title=Merged entity of UBI, PNB, OBC to become operational from 1 April next year |url=https://www.livemint.com/industry/banking/merged-entity-of-ubi-pnb-obc-to-become-operational-from-1-april-next-year-1568481571774.html |website=Mint |access-date=14 September 2019 |language=en |date=14 September 2019}}</ref> The Union Cabinet approved the merger on 4 March 2020. Punjab National Bank announced that its board had approved the merger ratios the next day. Shareholders of Oriental Bank of Commerce and United Bank will receive 1,150 shares and 121 shares of Punjab National Bank, respectively, for every 1,000 shares they hold.<ref>{{cite web |last1=Ghosh |first1=Shayan |title=Three banks announce merger ratios |url=https://www.livemint.com/market/stock-market-news/two-anchor-banks-pnb-union-bank-of-india-disclose-merger-ratios-11583413469591.html |website=Livemint |access-date=6 March 2020 |language=en |date=5 March 2020}}</ref>
The merge came into effect since 1 April 2020. Post merger, Punjab National Bank has become the second largest public sector bank in India<ref name="Merger">{{cite news |title=Merger of 10 public sector banks to come into effect from today: 10 points |url=https://www.livemint.com/industry/banking/merger-of-10-public-sector-banks-to-come-into-effect-from-today-10-points-11585632469446.html |access-date=2 April 2020 |work=Livemint |date=31 March 2020 |language=en}}</ref>

==Controversy over Non-performing Assets (NPAs)==
In February 2014, an RBI-appointed forensic audit by [[Deloitte]] found serious lapses in the [[Non-performing asset]] detection system of the bank.<ref>{{cite web|last=Gill|first=Simran|title=Is bad loan menace at United Bank of India a cover-up after serious lapses?|url=http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/is-bad-loan-menace-at-united-bank-of-india-a-cover-up-after-serious-lapses/articleshow/30346948.cms|work=The Economic Times|access-date=14 February 2014}}</ref> It is yet to be established whether this oversight on the part of the bank was deliberate or unintentional.

The bank has reported a loss of Rs. 1,238 crore during Q3 of the 2013-14 fiscal year, resulting in a downgrade of its tier-II bonds by ICRA, an associate of Moody's Investor Service.<ref>{{cite web|title=NPA worries lead to UBI bond rating downgraded|url=http://www.deccanherald.com/content/386216/npa-worries-lead-ubi-bond.html|work=Deccan herald|access-date=14 February 2014}}</ref> United Bank of India's reported NPA of 10.82% is the highest in percentage among listed banks in India.<ref>{{cite web|title=UBI reports Rs 1,238-cr loss|url=http://www.business-standard.com/article/companies/ubi-reports-rs-1-238-cr-loss-114020701304_1.html|work=Business Standard|access-date=14 February 2014}}</ref>

== Delivery channel based products==
* [[Automated teller machine|ATM]] with cash recycler at many branches
* Varieties of debit card like platinum and moments card
* [[Internet banking]]
* [[Mobile banking]]
* [[Prepaid credit card|Prepaid card]]
* [[SMS banking]]
* United E passbook application
*United wallet for utilities payment
*United credit card
*United UPI Bhim application

== See also ==
{{Portal|Banks}}
* [[List of banks in India]]
* [[United Bank of India (1866-1874)]]

==References==
{{Reflist}}

==External links==
* [http://www.unitedbankofindia.com/ Official website]

{{Banking in India}}

[[Category:Defunct banks of India]]
[[Category:Indian companies established in 1950]]
[[Category:Banks established in 1950]]
[[Category:Banks disestablished in 2020]]
[[Category:Companies formerly listed on the Bombay Stock Exchange]]
[[Category:Banks based in Kolkata]]
[[Category:Indian companies disestablished in 2020]]
[[Category:1950 establishments in West Bengal]]

United Bank of India - Revision history

CleanupBot II: Removed empty portal template using script

CleanupBot: /* top */robot: remove incorrect protection templates

->MusikBot II: Adding missing protection template (more info)

imported>Sngineer: Add defunct date to infobox