India’s Top PSUs 2019

India’s Top PSUs 2019 60 Advertorial United Bank of India About the Company United Bank of India (UBI) was formed in 1950, as United Bank of India Ltd, with the amalgamation of four banks namely, Comilla Banking Corporation Ltd, Bengal Central Bank Ltd, Comilla Union Bank Ltd and Hooghly Bank Ltd. The bank was nationalized on 19 th July 1969. The total number of branches stood at 2,055 as of March 2019, and more than 75% of these branches remain in the East and North East, making UBI the “Bank of First Choice” in this part of the country. The Bank has 2,017 ATMs and more than 6,000 POS. UBI is designated as the Lead Bank in 30 districts in the states of WB, Assam, Manipur and Tripura. The bank is also the Convener of the State Level Bankers’ Committees (SLBC) for the states of WB and Tripura. UBI has sponsored Regional Rural Banks (RRB) one each inWB, Assam, Manipur and Tripura. These four RRBs collectively have approximately 1,234 branches. UBI is also known as the ‘Tea Bank’ on account of its age-old association with the financing of tea gardens. Business Operations UBI operates in Retail Banking, Corporate Banking, International Banking, MSME, Agriculture and other financial services such as Demat & Trading and Insurance products, among others. The bank has 36 Regional Offices, 26 Retail Hubs, one Staff Training College at Kolkata and two Staff Training Centres at New Delhi and Guwahati. It also has two Overseas Representative Offices at Dhaka in Bangladesh and Yangon in Myanmar. As of March 2019, the total business of the Bank stood at ` 2,019.4 bn, out of which deposits were ` 1,349.8 bn and advances were ` 669.6 bn. Key Developments: • The total business of the bank crossed the ` 2,000 bn mark with closing figure at ` 2,019.4 bn as of Mar 2019 • The Bank’s Stressed Assets position improved substantially; both GNPA as well as NNPA showed improvement over the last 4 quarters • The provision coverage ratio improved to 72.94% as of March 2019, as against 53.48% as of March 2018 • The United Combo Loan Scheme (Housing Loan and Car Loan), United Home Advantage scheme were introduced in FY19 to meet the needs of the customer and to accelerate the growth of business in the retail loan segment • To boost recovery, the Bank formed a Stressed Asset Management Vertical and opened nine Stressed Asset Management Branches • UBI issued 5.57 lakh ATM cards to Kisan Credit Card (KCC) holders till Mar 2019, achieving the target of full conversion of entire operative KCCs to RUPAY KCC within the timeframe set by the government • Under Digital Banking, UBI launched Contactless NFC Debit Cards on MasterCard, VISA and RuPay networks, Interactive Mobile Banking services and Card Control through mobile app Dun & Bradstreet D-U-N-S® No 86-246-9538 Financial Snapshot ( ` Mn) Parameters FY18 FY19 Total Income 105,562.0 109,444.6 Net Profit (14,544.5) (23,159.3) Total Business 1,918,165.8 2,019,384.1 Ratios (%) NIM 1.7 2.1 Net NPA Ratio 16.5 8.7 Management Details Managing Director & CEO Ashok Kumar Pradhan Directors Executive Directors Sanjay Kumar Ajit Kumar Das Govt. of India Nominee Director Sameer Kumar Khare Part Time Non-Official Director Denesh Singh Sidhartha Pradhan Shareholder Director S Suryanarayana Address United Tower, 11, Hemant Basu Sarani, Kolkata – 700001, WB Website www.unitedbankofindia.com Follw us on: / UnitedBankOfIndiaOfficial / UnitedBankTweet Ashok Kumar Pradhan Managing Director & CEO