About Union Bank of India
Union Bank of India is the 5th largest Nationalized Bank by assets with a pan India presence. Established in the year 1919, and having its first head office inaugurated by the Father of Nation, Mahatma Gandhi, Union Bank offers products and services for retail, agriculture, MSME, large corporate and NRI customers through 4302 branches, which includes 4 overseas branches, and 7556 ATMs, 5407 Micro ATMs, dedicated call centre operating 24*7 in 9 languages and digital channels like internet banking, mobile banking and social media, viz. Facebook, Twitter, LinkedIn, Instagram and Youtube. The Bank has a business mix of ` 7, 24,475 crore, with deposits of ` 4,05,860 crore and advances of ` 3,18,615 crore as of June 30th, 2018.
A leader in digital banking, with 76% of transactions happening through alternate channels, the Bank offers a host of digital banking services to customers. The Bank offers “Digipurse”, mobile wallet with features of Bill Payment, DTH Recharge, Mobile Recharge, online and fund transfer; M Passbook, app based passbook; Union Selfie, app based account opening and Ucontrol, app based credit card control. Bringing more convenience to customers, the Bank’s ‘Union Xperience’ branches provide automation like self service passbook printing, cheque deposits machine, phone banking hot-line etc. The Bank has taken several other digital initiatives like IMPS through branches, Missed call facility for Mobile Banking & Account balance; SMS based value added services, Business Debit Card, Usecure Credit Card and Signature Credit Card, etc. Union Bank was the first amongst large public sector banks which implemented 100 per cent core banking solution (CBS).
Union Bank is actively raising its international profile through overseas branches and representative offices. Union Bank has four foreign branches, at Hong Kong, Dubai International Financial Centre (UAE), Antwerp (Belgium) and Sydney (Australia) and one wholly owned subsidiary at London (UK). The Bank has representative offices at Shanghai (China), Abu Dhabi (UAE), and Beijing (China). Union Bank has positioned itself as a prime remittance service provider for expatriates.
The Bank has a joint venture in life insurance with Bank of India and Dai-ichi Life Insurance Co of Japan as Star Union Dai-ichi Life Insurance Company. The Bank has a subsidiary for asset management business, Union Asset Management Company.
The Bank’s efforts have been acknowledged through various awards by well established names across all the major segments including Digital, HR & Training, Corporate Governance, Vigilance, Financial Inclusion and Information & Technology.