Union Bank of India

“GOOD PEOPLE TO BANK WITH”

SHRI M.V.NAIR - Chairman & Managing Director

Union Bank of India (UBI) is one of India's largest state-run banks and is also listed on the Forbes
2000. It has assets of USD 13.45 billion. It has representative offices in Abu Dhabi, United Arab
Emirates, and Shanghai, Peoples Republic of China, and a branch in Hong Kong.

Because of its acronym UBI, the public sometimes confuses it with United Bank of India.

1919: UBI was registered on November 11, 1919 as a limited company in Mumbai. It was
inaugurated by Mahatma Gandhi.

1947: UBI had only 4 branches - 3 in Mumbai and 1 in Saurashtra, all concentrated in key trade
centres.

1975: The Government nationalized UBI. At the time of its nationalization, UBI had 240 branches in
28 states.
After nationalization, UBI merged in Belgaum Bank, a private sector bank established in 1930.

1985: UBI merged in Miraj State Bank, established in 1929.

1999: UBI acquired Sikkim Bank in a rescue at the request of the Reserve Bank of India after the
discovery of extensive irregularities at the non-scheduled bank. Sikkim Bank had eight branches
located in the North-east, which was attractive to UBI.

2007: UBI opened representative offices in Abu Dhabi, United Arab Emirates, and Shanghai, Peoples
Republic of China.

2008: UBI opened a branch in Hong Kong, its first branch outside India.

Vision Statement
“To become the bank of first choice in our chosen areas by building beneficial and lasting
relationship with customers through a process of continuous improvement.”

Mission Statement
• A logical extension of the Vision Statement is the Mission of the Bank,which is to gain
market recognition in the chosen areas.
• To build a sizeable market share in each of the chosen areas of business through effective
strategies in terms of pricing, product packaging and promoting the product in the market.
• To facilitate a process of restructuring of branches to support a greater efficiency in the
retail banking field.
• To sustain the mission objective through harnessing technology driven banking and delivery
channels.
• To promote confidence and commitment among the staff members, to address the
expectations of the customers efficiently and handle technology banking with ease.