UCO Bank (UCO) is a commercial bank and a Government of India undertaking. It was incorporated on Feb. 15, 1974. The bank has active financial participation in agriculture, industry, trade and commerce, service, infrastructure, and other sectors. It offers loans for housing, cars, education, agriculture, and several other purposes. The bank has more than 2,000 service units across India, 237 ATM centers, two major financial centers in Hong Kong and Singapore, undertakes foreign exchange business in more than 50 centers in India and has foreign exchange dealings at four centers. The bank opened 57 branches and upgraded 53 extension counters as on March 31, 2007.
Headquartered in Kolkota, the bank has 35 regional offices across India. The total deposits of the bank increased from INR 575,080 million to INR 702,920 million registering a growth of 22.23% year-on-year and advances increased from INR 407,640 million as on Sept. 30, 2006 to INR.477,020 million as on Sept. 30, 2007, showing a growth of 17.02%. It has facilitated payment of utility bills of 38 companies through e-banking implemented at eight centers and collection of central excise and service tax through e-banking. The bank has planned to invest INR 60 billion till 2010 for business expansion. It has identified 111 potential branches for increasing lending to agriculture and launched a new agriculture lending scheme called UCO Samagra Kisan Samriddhi Yojna. The bank plans to add 80 branches and 76 new off site ATMs in 2007-2008. It would increase its tier-1 plus tier-2 capital from the current level of INR 50 billion to INR 110 billion by March 2011. The registered and head office of the bank is located at 10, B.T.M. Sarani, Kolkata-700001.
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