PUBLIC SECTOR BANKS IN INDIA – UNION BANK OF INDIA
PUBLIC SECTOR BANKS OF INDIA – UNION BANK OF INDIA
Union Bank of India (UBI) is one of India’s largest state-owned banks .It is listed on the Forbes 2000. It has assets of USD 13.45 billion and all the bank’s branches, and its also have been networked with 1135 ATMs.Its online Telebanking facility are available to all its Core Banking Customers – individual as well as corporate. It has representative offices in Abu Dhabi, United Arab Emirates, and Shanghai, Peoples Republic of China, and a branch in Hong Kong.
Union Bank of India (UBI) was registered on 11 Nov.1919 as a limited company in Mumbai and was inaugurated by Mahatma Gandhi. At the time of India’s Independence in 1947.UBI Bank still only had four branches – three in Mumbai and one in Saurashtra, all concentrated in key trade centres. After Independence UBI accelerated its growth and by the time the government nationalized it in 1969.It had grown to 240 branches in 28 states.
UBI Bank began its international expansion in 2007 with the opening of representative offices in Abu Dhabi, United Arab Emirates, and Shanghai, Peoples Republic of China. The next year, UBI established a branch in Hong Kong, its first branch outside India. In 2009, UBI Bank opened a representative office in Sydney, Australia Country.