Union Bank of India

Overview

Union Bank of India is BSE: 532477 + NSE: UNIONBANK + Indian state-owned commercial bank + one of India's largest public sector banks by assets + ~150M+ Indian customers + Andhra Bank + Corporation Bank Apr 1 2020 amalgamation [1, in-cro].

History

Nov 11 1919 — Union Bank of India founded by Seth Sitaram Poddar in Mumbai (Mahatma Gandhi inaugurated its head-office building in 1921) distinctive Indian banking heritage.

1969 — Union Bank nationalised by Indian government as one of 14 major Indian commercial banks.

2013 — Union Bank mobile banking app launch.

Apr 1 2020 — Andhra Bank + Corporation Bank Apr 1 2020 amalgamation into Union Bank of India distinctive Indian banking consolidation.

2022 — Union Vyom mobile banking app launch (rebrand of UMobile).

Ownership & operator

Operating entity: Union Bank of India UBI (Indian state-owned commercial bank; BSE: 532477 + NSE: UNIONBANK).

Major shareholders: Government of India (Ministry of Finance) ~74.76% majority + Indian retail + institutional + foreign investors free float.

Regulators: RBI.

Technical integration

Union Vyom mobile app (iOS + Android; ~150M+ Indian customers) + unionbankofindia.co.in online + Union Bank branch network across India + UK + UAE + Hong Kong + Australia + Belgium + China + Union Bank Visa + Mastercard + RuPay cards; UPI + BharatQR + IMPS + RuPay.

Implementations & partners

Major Indian banking + payments competitors: [[sbi-yono]] (SBI YONO State Bank of India; BSE: 500112 + NSE: SBIN; India's largest commercial bank by assets) + [[hdfc-bank]] (HDFC Bank; BSE: 500180 + NSE: HDFCBANK; India's largest private commercial bank by assets) + [[icici-bank]] (ICICI iMobile Bank; BSE: 532174 + NSE: ICICIBANK; India's #2 private commercial bank by assets) + [[axis-bank]] (Axis Bank; BSE: 532215 + NSE: AXISBANK; India's #3 private commercial bank by assets) + [[kotak-mahindra]] (Kotak Mahindra Bank; BSE: 500247 + NSE: KOTAKBANK; India's #4 private commercial bank by assets) + [[pnb-india]] (PNB Punjab National Bank; BSE: 532461 + NSE: PNB; Indian state-owned commercial bank) + [[canara-bank]] (Canara Bank; BSE: 532483 + NSE: CANBK; Indian state-owned commercial bank + Syndicate Bank Apr 1 2020 amalgamation) + [[bank-of-baroda]] (Bank of Baroda; BSE: 532134 + NSE: BANKBARODA; Indian state-owned commercial bank + Vijaya Bank + Dena Bank Apr 1 2019 amalgamation) + [[phonepe]] (PhonePe; Walmart Flipkart subsidiary; India's largest UPI wallet by transactions) + [[google-pay-india]] (Google Pay India; India's #2 UPI wallet by transactions) + [[paytm]] (Paytm; BSE: 543396 + NSE: PAYTM; Indian super-app wallet).

Regulator: RBI.

Status

Active, BSE:532477 + NSE:UNIONBANK + Indian state-owned commercial bank + one of India's largest public sector banks by assets + ~150M+ Indian customers + Andhra Bank + Corporation Bank Apr 1 2020 amalgamation [1, 2].

Sources

• 1 Union Bank — official
• 2 Union Bank of India — Wikipedia
• in-cro In-corpus: reports/countries/IN-india.md

Source

Biography extracted from union-bank-india.md. See matrix.md for standards-support matrix if present.