UCO Bank
An Indian government-owned public sector bank serving retail, corporate, agricultural, small-business and international banking customers.
Last updated August 31, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
UCO Bank, formerly United Commercial Bank, is an Indian public sector bank headquartered in Kolkata. It was incorporated on 6 January 1943 during the Quit India period after industrialist G. D. Birla proposed creating a commercial bank financed and managed by Indians. The institution began with Kolkata as its head office, an issued capital of ₹2 crore and 14 branches opened simultaneously in different parts of India. Its original identity combined commercial banking with a broader nation-building role, a positioning that later became closely associated with India’s state-owned banking system. The bank expanded internationally soon after its establishment. It opened a branch in Rangoon in 1947, followed by operations in Singapore, Hong Kong, London and Malaysia. Political and regulatory changes later reshaped this network. Burma nationalised the bank’s three local branches in 1963, while Malaysian restrictions on foreign government ownership led UCO Bank, Indian Overseas Bank and Indian Bank to place their Malaysian operations into United Asian Bank, a jointly owned Malaysian institution. UCO subsequently closed its London branch in 1998, with Bank of Baroda acquiring the branch’s assets and liabilities but not retaining its staff. In India, the bank absorbed the assets and liabilities of Jalpaiguri Banking and Trading Corporation in 1967. That institution had operated in northern West Bengal and had specialised in lending secured against tea-garden mortgages. UCO Bank itself was nationalised by the Government of India on 19 July 1969. Nationalisation strengthened its role in implementing public policy, including priority-sector lending and poverty-alleviation programmes. An organisational restructuring exercise in 1972 introduced greater functional specialisation, administrative decentralisation and emphasis on staff development. The bank also held convenor responsibilities for State Level Bankers’ Committees in Odisha and Himachal Pradesh from 1983. Parliament changed the bank’s name to UCO Bank in 1985. The change was intended to avoid confusion in international banking markets with a separate United Commercial Bank operating in Bangladesh. The shortened name became the principal consumer and corporate identity of the Indian institution. UCO Bank provides conventional banking and financial services, including deposit accounts, payment services, retail and corporate credit, agricultural finance, small and medium-sized enterprise lending, trade finance, remittances, treasury services and digital banking. Its domestic delivery system includes branches, ATMs, specialised loan and asset-management hubs, corporate branches, currency chests and service centres. The bank also supports cross-border transactions through overseas branches in Singapore and Hong Kong, a representative office in Tehran, SWIFT participation and correspondent banking relationships. The bank’s public-sector character remains central to its positioning. The Government of India is its controlling shareholder, and the institution combines commercial banking with policy-oriented financial inclusion and development objectives. Its blue-and-yellow visual identity includes clasped hands within an octagonal form, while its stated motto is “Honours your Trust.” UCO Bank also became associated with distinctive local-service initiatives, including a lockless branch at Shani Shingnapur in Maharashtra, reflecting local religious custom. UCO Bank is a listed Indian banking company and remains active across the country. Its network has included thousands of service units, zonal offices and more than 3,000 domestic branches in recent reporting periods, together with a smaller overseas presence. It formerly sponsored Paschim Banga Gramin Bank, but that regional rural bank was amalgamated into West Bengal Gramin Bank in 2025, leaving UCO Bank without a sponsored regional rural bank according to the referenced account.
History
UCO Bank originated in the political and economic environment of colonial India during the Quit India movement. Industrialist G. D. Birla conceived a commercial bank that would operate with Indian capital and management. United Commercial Bank Limited was incorporated in Kolkata on 6 January 1943. Birla served as chairman, and the bank began with an issued capital of ₹2 crore, of which ₹1 crore was paid up. Fourteen branches opened simultaneously, giving the new institution an unusually broad initial geographic footprint. After the Second World War, United Commercial Bank developed an overseas network. Its first foreign branch opened in Rangoon in 1947. Singapore followed in 1951, Hong Kong in 1952, London in 1953 and Malaysia thereafter. These operations connected the bank to Indian trade and diaspora communities while extending its commercial reach beyond the domestic market. Burma’s nationalisation of the bank’s three branches there in 1963 marked one early reversal. In Malaysia, restrictions on foreign government ownership later required United Commercial Bank, Indian Overseas Bank and Indian Bank to combine their local operations in United Asian Bank, with each parent institution holding one-third of the venture. The bank expanded through domestic institutional transactions as well. On 15 September 1967, Jalpaiguri Banking and Trading Corporation transferred its assets and liabilities to United Commercial Bank. Founded in the late nineteenth century, Jalpaiguri Banking and Trading Corporation had operated from a single office and focused on mortgage-backed lending to tea gardens, an important business in northern Bengal. The Government of India nationalised United Commercial Bank on 19 July 1969. From that point onward, the bank became part of India’s public banking infrastructure and was expected to balance commercial operations with government-directed development objectives. An internal restructuring in 1972 introduced stronger functional specialisation and decentralised administration, together with a greater focus on employee skills and attitudes. The bank continued to participate in poverty-alleviation and priority-sector programmes. In 1983 it was given convenor responsibilities for the State Level Bankers’ Committees in Odisha and Himachal Pradesh. The institution adopted the name UCO Bank in 1985 through parliamentary legislation. The change helped distinguish the Indian bank from a separate United Commercial Bank in Bangladesh, particularly in international banking contexts. UCO Bank retained its public-sector identity while continuing to offer retail, corporate, agricultural and international services. Its overseas footprint subsequently contracted. The London branch closed in 1998, and Bank of Baroda acquired its assets and liabilities, while the branch’s personnel were made redundant. UCO Bank continued operating in Singapore and Hong Kong and developed international services through authorised Indian branches, SWIFT membership and correspondent relationships. The bank has also facilitated special rupee-based trade mechanisms involving Iran and Russia, subject to the applicable regulatory framework. In India, the bank built a large branch and service network supported by zonal offices, ATMs, specialised corporate and loan branches, asset-management branches, currency chests and training institutions. It has served households, farmers, small businesses, corporations, exporters, importers and government-linked programmes. A notable local initiative was the opening of a lockless branch at Shani Shingnapur in Maharashtra, designed to respect the local religious custom associated with the site. UCO Bank remains a government-owned listed bank headquartered in Kolkata. The Government of India is its controlling shareholder. Its current identity is based on trust, accessibility and public-sector reach, while its business increasingly includes digital channels, specialised credit hubs and cross-border banking. Following the amalgamation of Paschim Banga Gramin Bank into West Bengal Gramin Bank in 2025, UCO Bank no longer sponsors a regional rural bank according to the cited reference.
- 2025
Paschim Banga Gramin Bank is amalgamated
[1]The amalgamation of Paschim Banga Gramin Bank into West Bengal Gramin Bank ended UCO Bank’s sponsorship of a regional rural bank.
- 1998
London branch closes
[1]UCO Bank closed its London branch, with Bank of Baroda acquiring its assets and liabilities.
- 1985
The bank adopts the UCO Bank name
[1]Parliament changed the name from United Commercial Bank to UCO Bank to avoid confusion with a Bangladeshi bank.
- 1972
Organisational restructuring
[1]The bank reorganised its administration to increase functional specialisation, decentralisation and staff development.
- 1969
Nationalisation by the Government of India
[1]United Commercial Bank was nationalised on 19 July 1969 and became part of India’s public sector banking system.
- 1967
Jalpaiguri Banking and Trading Corporation is absorbed
[1]Jalpaiguri Banking and Trading Corporation transferred its assets and liabilities to United Commercial Bank.
- 1951
Singapore operations commence
[1]The Singapore main branch opened on 21 April 1951, later followed by a Serangoon branch.
- 1947
First overseas branch opens in Rangoon
[1]The bank began its postwar international expansion with a branch in Rangoon.
- 1943
United Commercial Bank is established
[1]United Commercial Bank Limited was incorporated in Kolkata on 6 January 1943 under the chairmanship of G. D. Birla, opening 14 branches at the outset.
Products and positioning
A trusted, government-owned Indian public sector bank combining nationwide retail and development-oriented banking with corporate, agricultural, MSME and cross-border services.
Banking services
Retail banking
UCO Bank’s retail business covers savings and current accounts, deposits, payment services, cards, personal finance and digital banking. It serves individual customers through branches, ATMs and online channels, with the public-sector network supporting access in urban, semi-urban and rural markets.
Retail credit
Home and personal loans
The bank provides consumer lending that includes housing finance and personal loans. These products form part of its retail credit offering and are distributed through its branch network and specialised retail-loan hubs.
Priority-sector banking
Agricultural finance
Agricultural finance supports farmers and related rural economic activity. The offering reflects UCO Bank’s public-sector mandate and its participation in priority-sector and financial-inclusion programmes.
Business banking
MSME banking
UCO Bank lends to micro, small and medium-sized enterprises through dedicated SME and agriculture loan hubs, integrated loan hubs and regular branches. Services include working-capital and other business credit facilities.
Corporate banking
Corporate and international banking
Corporate and international services include institutional credit, trade finance, foreign-exchange services, remittances and cross-border payments. Singapore and Hong Kong branches, a Tehran representative office, SWIFT membership and correspondent relationships support the international proposition.
Financial technology
Digital banking
Internet and mobile banking channels enable customers to access accounts, payments and selected banking services without relying exclusively on physical branches. These channels complement UCO Bank’s nationwide branch and ATM infrastructure.
Marketing campaigns
- Lockless branch at Shani Shingnapur
India
UCO Bank opened a branch at Shani Shingnapur in Maharashtra without conventional locks, presenting the format as a way to respect the local religious belief and customs associated with the site.
Outcome. The branch became a distinctive example of adapting a banking facility to local cultural conditions.
Brand decisions
2025
End of sponsorship of Paschim Banga Gramin BankM&ABackground
Paschim Banga Gramin Bank, formerly sponsored in part by UCO Bank, was included in a wider regional rural banking amalgamation.
Action taken
Paschim Banga Gramin Bank was amalgamated into West Bengal Gramin Bank, sponsored by Punjab National Bank.
Aftermath
UCO Bank no longer had a sponsored regional rural bank according to the referenced account.
1998
Closure of the London branchStrategyBackground
UCO Bank reviewed its international network and discontinued its London operation.
Action taken
The London branch was closed, and Bank of Baroda acquired its assets and liabilities.
Aftermath
The branch’s personnel were made redundant, while UCO Bank retained other overseas operations.
1985
Adoption of the UCO Bank identityStrategyBackground
The former United Commercial Bank name created potential confusion with a bank in Bangladesh using the same name, particularly in international banking.
Action taken
Parliament changed the institution’s name to UCO Bank.
Aftermath
UCO Bank became the continuing corporate and consumer identity of the Indian public sector bank.
Recent events
UCO Bank launches RuPay Select Contactless Debit Card[3]
Reported:
UCO Bank announced the launch of the RuPay Select Contactless Debit Card for its premium customer segment, in association with the National Payments Corporation of India (NPCI).
UCO Bank partners with Fisdom for wealth management services[4]
Reported:
UCO Bank partnered with Finwizard Technology, which runs Fisdom, to offer wealth management products and services through the bank’s mBanking Plus App.
UCO Bank announces quarterly and nine-month results[5]
Reported:
UCO Bank announced financial results for the quarter and nine-month period ended December 31, 2020, reporting net profit of Rs. 35.44 crore for the quarter.
UCO Bank partners with four insurers to offer insurance products[6]
UCO Bank tied up with SBI Life Insurance Company, the Oriental Insurance Company, Religare Health Insurance Company, and Star Health and Allied Insurance Company to offer their insurance products to customers through its branch network.
GeM signs payment-services MoUs with two banks[7]
Reported:
The Government e-Marketplace signed MoUs with Bank of Maharashtra and UCO Bank to offer registered portal users services including fund transfers, performance bank-guarantee advising, and earnest-money deposits.
Sources10 sources
- 1UCO Banken.wikipedia.org
- 2UCO Bank official websiteucobank.com
- 3UCO Bank 推出 RuPay Select 非接触式借记卡businesstoday.in
- 4UCO Bank与Fisdom合作提供财富管理服务livemint.com
- 5UCO Bank 公布季度及九个月业绩equitybulls.com
- 6UCO Bank与四家保险公司合作销售保险产品moneycontrol.com
- 7GeM与两家银行签署支付服务谅解备忘录business-standard.com
- 8Gem partners with UCO Bank, BoM for Payment related servicesbusiness-standard.com
- 9GeM partners with UCO Bank, BoM for payment-related servicesyourstory.com
- 10UCO Bank teams up with four insurers to sell their products - BusinessTodaybusinesstoday.in
Cite this profile: Cite the canonical profile. /brand-wiki/uco-bank · Editorial policy · How profiles are compiled