Established in: 1943
Managing Director: Ashwani Kumar
UCO Bank is a public sector bank and financial services provider owned by the Government of India, headquartered in Kolkata. The bank is a medium-sized public sector bank and was ranked 1948th in the Forbes Global 2000 list in 2018 and was ranked 80th on the Fortune India 500 list in 2020.
UCO Bank is the only public sector bank in eastern India and has more than 4,000 service units and 43 zonal offices all across India. It also has branches in Singapore and Hong Kong.
The bank launched its IPO and went public in 2003, and raised around ₹240 crore by issuing shares at ₹12 per share. The bank is now listed on BSE, NSE and BSE Kolkata.
History of UCO Bank
The United Commercial Bank Limited was established in 1943 and had its registered office in Kolkata. Between 1947 and 1953, the bank expanded its international operations and opened overseas branches in Rangoon, Singapore, Hong Kong and London.
In 1969, the bank was nationalised by the Government of India and shifted its focus from class banking to mass banking. In 1972, the bank underwent a major organisational restructuring, decentralising administration and improving employee skills.
In 1985, the United Commercial Bank was renamed to UCO Bank by an Act of Parliament.
Business Segments of UCO Bank
The following are the business segments of UCO Bank.
This segment caters and offers financial services such as personal banking, loans, and digital banking services to individual customers, including RAM (Retail, Agriculture, and MSME) sectors.
This segment offers financial services to large and mid-sized corporate clients, government entities and institutions. It provides term loans, project financing, letters of credit, bank guarantees and working capital limits, etc. It also offers foreign currency loans, export/import financing, and non-resident Indian (NRI) banking services.
This segment manages the bank’s investment portfolio, money market operations, forex operations and derivative trading. It manages the bank’s liquidity, maintains the regulatory reserves and manages its investment in government securities and bonds.
To support rural populations, the bank offers agricultural credit, such as crop and tractor loans, along with microfinance, government-led financial inclusion initiatives, and Self-Help Groups (SHGs)
Future Plans of UCO Bank
The following are the future plans of UCO Bank.
The bank aims to increase its national presence and hit a total network of 3,472 branches. It is targeting accessibility in urban, semi-urban cities and towns.
The bank plans for the complete digitalisation of liability and asset products such as MSME loans, microfinance and retail loans.
The bank is significantly modernising its operations by restructuring payment switches, upgrading to Finacle 10, and acquiring skilled talent in IT, digital innovation, and cybersecurity.
The bank is rolling out a new technology-driven loan origination system to accelerate and streamline retail, agriculture and MSME loans approvals.
The bank is setting up a new corporate office in Newtown, Kolkata, in collaboration with NBCC, in order to centralise and streamline corporate operations.
Awards and Recognition Received by UCO Bank
The following are the awards and recognition received by UCO Bank.
- Silver Award in the Digital CX Trailblazer category for AI/ML-driven personalisation, 2026 by IBEX India BFSI Tech Awards.
- Digital Transformation Award, by the Ministry of Finance.
- Cyber Security Transformation of the Year, 2025 by IBA Cyber Security Awards.
- 3rd Position, Best SLBC Award, and Best LDM Award, 2025 by Atal Pension Yojana (APY) Awards.
- Jury Special Award for Implementing Government MSME Schemes, by the Ministry of State for Finance.
- PRAISE Award (3rd position) by PM SVANidhi Yojana.
UCO Bank Financial Highlights
- Revenue: UCO Bank reported revenue of ₹29,473.53 crore in FY25 vs ₹25,119.87 crore in FY24. It showed an increase of 17.33% on a yearly basis.
- Operating Profit: UCO Bank reported an operating profit of ₹3,833.55 crore in FY25 vs ₹2,568.85 crore in FY24. It showed an increase of 49.23% on a year-on-year basis.
- Net Profit: UCO Bank reported a net profit of ₹2,444.96 crore in FY25 vs ₹1,653.74 crore in FY24. It showed an increase of 47.84% on a yearly basis.
UCO Bank Quarterly Result Highlights
- UCO Bank reported revenue of ₹8,136.79 crore in Mar 2025, compared with ₹7,405.89 crore in Dec 2024, representing an increase of 9.87% on a quarter-on-quarter (QoQ) basis.
- UCO Bank reported an operating profit of ₹1,036.14 crore in Mar 2025, compared with ₹996.18 crore in Dec 2024, representing an increase of 4.01% on a quarter-on-quarter (QoQ) basis.
- UCO Bank reported a profit of ₹652.43 crore in Mar 2025, compared with ₹638.83 crore in Dec 2024, reflecting an increase of 2.13% on a QoQ basis.
- The earnings per share (EPS) of UCO Bank stood at ₹2.06 during Mar 2025.
Data Source: BSE, Company announcements
Securities shown are illustrative, not recommendations. Past performance does not guarantee future results.
