UCO Bank

UCO Bank, formerly United Commercial Bank, is an Indian public sector bank, established in 1943 in Kolkata. During FY 2020–21, its total business was 3.24 lakh crore. Based on 2020 data, it is ranked 80 on the Fortune India 500 list. UCO Bank was ranked 1948 in Forbes Global 2000 list of year 2018. the bank had 4,000 plus service units 49 zonal offices spread all over India. It also has two overseas branches in Singapore and Hong Kong. UCO Bank's headquarters is on BTM Sarani, Kolkata. History G. D. Birla, an eminent Indian industrialist, during the Quit India movement of 1942, conceived the idea of organising a commercial bank with Indian capital and management, and the United Commercial Bank Limited was incorporated to give shape to that idea. The bank was started with Kolkata as its head office with an issued capital of 2 crores, of which 1 crore was actually paid up. Birla was its chairman; the Board of Directors included eminent personalities of India drawn from many fields. The bank opened 14 branches simultaneously across India. After World War II, United Commercial Bank opened several overseas branches. The first, in 1947, was in Rangoon. Branches in Singapore (1951), Hong Kong (March 1952), London (1953), and Malaysia followed. In 1963 the Burmese government nationalized United Commercial Bank's three branches there, which became People's Bank No. 6.