Union Bank of India

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Union Bank of India: Comprehensive Overview

General Information

• Founded: November 11, 1919, by Seth Sitaram Poddar
• Headquarters: Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra, India
• Key People: Srinivasan Varadarajan (Non-Executive Chairman), A. Manimekhalai (Managing Director & CEO)
• Website: Union Bank of India

Financial Highlights (as of June 30, 2024)

• Total Business: ₹21.36 lakh crores
  • Deposits: ₹12.24 lakh crores
  • Advances: ₹9.12 lakh crores
• Revenue: ₹97,078.50 crores (FY23)
• Operating Income: ₹25,250.20 crores (FY23)
• Net Income: ₹8,511.70 crores (FY23)
• Total Assets: ₹1,288,357.10 crores (FY23)
• Total Equity: ₹78,803.50 crores (FY23)
• Capital Ratio: 17.02% (June 2024)

Network and Reach

• Branches: Over 8,400 domestic branches
• ATMs: Over 9,200
• Employees: Approximately 74,000
• Customers: Over 153 million
• International Presence: Branches in Dubai (UAE) and Sydney (Australia), a banking subsidiary in London (UK), and a joint venture in Malaysia¹².

Services Offered

• Personal Banking: Savings accounts, fixed deposits, personal loans, home loans, education loans, and more.
• Corporate Banking: Business loans, working capital finance, trade services, and more.
• NRI Banking: Accounts and investment options for Non-Resident Indians.
• Digital Banking: Internet banking, mobile banking through the Vyom app, and doorstep banking services.
• Investment Options: Mutual funds, insurance, and savings accounts.

Achievements

• Technology: First large public sector bank in India to implement a 100% core banking solution.
• Awards: Recognized for excellence in technology, digital banking, financial inclusion, MSME services, and human resource development¹².

Contact Information

• Corporate Office: Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400 021, Maharashtra, India
• Phone: +91 22-22892000
• Website: Union Bank of India