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Bank sign in Mumbai, India.
United Bank of India, is one of India's major commercial banks. Currently (2005), the bank has 1312 branches spread all over India, but its major presence is in eastern India. Due to a common acronym (UBI), which it shares with Union Bank of India, which also has an all-India presence, the public sometimes confuses the two banks.
[edit] History
United Bank of India was established in 1950 through the merger of four Bengali banks, namely, Comilla Banking Corporation (founded by Narendra Chandra Datta in 1914 in what is now Bangladesh), Bengal Central Bank (founded by Sri J.C. Das in 1918), Comilla Union Bank (founded by Sri L.B. Dutta in 1922) and Hooghly Bank (founded by Sri D.N. Mukherjeee 1932).
- 1961 UBI merged in Cuttack Bank and Tezpur Industrial Bank.
- 1969 On 19th July, the Government of India nationalized UBI, along with 13 other major Indian commercial banks.
- 1973 UBI acquired Hindusthan Mercantile Bank.
- 1976 UBI acquired Narang Bank of India.
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