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About UCO Bank
History of UCO Bank Limited
UCO Bank Limited is a commercial bank incorporated in 1943 by G.D. Birla as United Commercial Bank. In 1969, the Government of India took 100% ownership of the bank. In 1972, the bank underwent organisational restructuring, which resulted in increased functional specialisation, decentralised administration, and a focus on enhancing personnel skills. Simultaneously, the bank was supporting government poverty alleviation programs, and in 1983, they took the role of the convenor for the State Level Bankers' Committee (SLBC) in Odisha and Himachal Pradesh. In 1985, the bank’s name was changed to UCO Bank UCO Bank released its IPO in 2003-2004 and is listed on both NSE and BSE. As of March 31, 2023, the government’s stake in the bank was 95.39%. UCO Bank offers banking services. They have a presence all over India and outside India as well. As of March 2023, the bank has 3,205 domestic branches, 43 zonal offices and overseas branches in Singapore and Hong Kong. UCO Bank was allocated 16,281 villages in India to offer inclusive banking facilities in unbanked or under-banked areas. The bank also offers its services online for its retail customers and merchants. The bank provides customers with various services such as personal loans, credit card renewal, and much more online on its website. The bank has also partnered with other financial institutions like Muthoot Fincorp Ltd, IIFL Finance Ltd, Aadhar Housing Finance Ltd, and Capri Global Housing Finance Ltd to promote co-lending. They are also in partnership with several insurance providers, including Life Insurance Corporation of India, ICICI Prudential Life Insurance Co., SBI Life Insurance Co. Ltd, The Oriental Insurance Co. Ltd, Star Health & Allied Insurance Co. Ltd, etc., to offer various insurance products.Business Segments of UCO Bank Limited
The primary business segments of the bank include:- Corporate Banking: Under this segment, the bank offers banking services like loans, deposits, value-added services, etc., to corporates.
- International Banking: This segment is for corporates, Indian customers, NRIs, overseas corporate bodies, foreign individuals, foreign companies, foreign banks etc. The products and services include NRI banking, Foreign Currency Loans, remittances, etc.
- Rural Banking: As the name suggests, this segment is for rural customers. The products offered include agriculture credit, deposits, etc.
- Government Business: Under this segment, the bank allows customers to participate in government schemes, such as Sukanya Samriddhi Yojana, Senior Citizen Savings Scheme, etc.
Key Personalities of UCO Bank Limited
Ashwani Kumar, Managing Director and Chief Executive Officer (CEO) Ashwani Kumar is the Managing Director and CEO of UCO Bank Limited. He has vast experience in leadership roles, such as Executive Director, Zonal Manager, and Chief Finance Officer (CFO). Previously, he worked at various banks, including India Bank, Bank of Baroda, Oriental Bank of Commerce, Corporation Bank, and Punjab National Bank.Corporate Actions of UCO Bank Limited
There are no records of stock splits or bonus shares from UCO Bank Limited.SWOT Analysis of UCO Bank Limited
Strengths- Owned and managed by the Indian Government with more than 90% shareholding.
- Being one of the oldest banks in the country builds trust amongst customers.
- Has a huge presence in the country with more than 3,000 branches.
- Overseas presence is limited to only two countries.
- Offer a wide range of services digitally similar to other banks in the market.
- Establish in other countries.
- Explore opportunities in affordable housing services.
- The RBI regulates the banking sector and is subject to changes in rules and regulations.
Parent Organisation
Govt of India
Managing Director
Aravamudan Krishana Kumar
Founded
1943
NSE Symbol
UCOBANK
Peer Comparision
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Uco Bank FAQs
What is the share price of Uco Bank (UCOBANK) shares?
Uco Bank (UCOBANK) share price as of May 30, 2024, on NSE is Rs 2,851.15 (NSE) and Rs 2,860.00 (BSE) on BSE.
Can I buy Uco Bank (UCOBANK) from Angel One?
Yes, You can buy Uco Bank (UCOBANK) shares by opening a Demat account with Angel One.
How do I buy Uco Bank (UCOBANK) from Angel One?
Uco Bank (UCOBANK) share can be bought through the following modes:
1. Direct investment: You can buy Uco Bank (UCOBANK) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Uco Bank (UCOBANK) shares.
1. Direct investment: You can buy Uco Bank (UCOBANK) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Uco Bank (UCOBANK) shares.
What is the main business of UCO Bank?
The main business of UCO Bank is to provide financial, banking, and insurance services in various segments, such as retail banking, corporate banking, and treasury operations. It is an Indian public sector bank.
Who are the promoters of UCO Bank?
The main promoter of UCO Bank is the President of India with a 95.39% shareholding as of 30th September 2022.
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