UCO Bank
NSE: UCOBANK BSE: 532505
₹21.63
-0.92 (4.08%)
Sat, 31 Oct 2026, 07:22 pm
Market Cap (in Cr)27135.6
PE Ratio0
Dividend2.03
Finance
Regional Banks
24.5KUCO Bank Company History
1974
- Incorporated on February 15.
1992
- Opened 11 branches; total branches in India reached 1783.
- Introduced Lakhpati Scheme, Money Multiplier Schemes, Money Back Recurring Deposit Scheme, Two-Way Deposit Scheme.
- Implemented Planning for Development of Villages through 22 branches.
- Modified UCO Kishan Patra Agricultural Credit Card.
- Participated in DWCRA scheme for women and children.
- Upgraded Guntur branch to 'A' category for tobacco exports.
- Upgraded 56 branches to 'B' category foreign exchange branches.
- Introduced teller system in 16 branches; total 84.
- Installed 130 ALPMs in 35 branches; 116 operational.
- Received honours for Official Language Conferences.
- Shri K Margabanthu joined as Chairman & Managing Director on September 11, 1991.
- Shri G K Udeshi ceased as Director on September 1, 1991.
- Launched Prime Minister's Rozgar Yojana on October 2.
1994
- Introduced FCNR (Banks) Scheme.
- Took steps to improve recovery, reduce NPA, lower cost of funds, boost non-interest income.
- Opened five new branches.
- Nominated as principal financing agency in six districts.
- Constituted State Level Export Promotion Committees.
- Published booklet on non-resident deposit schemes.
- Effected inter-cadre promotions for staff.
- Shri Dipak Rudra joined as Chairman & Managing Director on July 23, 1993.
1995
- Opened 14 new branches.
- Opened six recovery branches and six SSI branches.
- Merged 17 non-viable branches.
- Net opened three extension counters; total 138.
- Five sponsored RRBs selected under Development Assistance Plan.
- Opened specialised recovery branches in major cities.
- Opened four more currency chests; total 59.
- Set up Customer Service Committees at 1724 branches.
- Received Rajbhasha Shield; employees won prizes.
- Installed ALPMs in 55 branches.
- Installed 25 PCs at Head Office and mini computers at 14 Zonal Centres.
- Shri Y K Sharma and Shri M K Bandopadhyaya appointed as Directors.
1996
- Opened 10 new branches and one extension counter.
- Closed Leicester branch in UK; overseas branches reduced to six.
- Launched UCO Lakshmi Yojana deposit scheme.
- Implemented PDV programme in Cuttack and Dharamsala regions.
- Implemented linking Self Help Groups with the Bank.
- Served as Convenor of State Level Bankers' Committee in Orissa and Himachal Pradesh.
- Identified branches for ATMs under IBA Shared Payment Network.
- Executed MOU with Trade Unions to form Business Development Committees.
2000
- Introduced Special Settlement scheme for NPAs.
- V P Shetty appointed Chairman and Managing Director w.e.f. October 6.
- Introduced seven-day banking at 17 Mumbai suburban branches and 12-hour banking at Khar branch.
- V Sridhar appointed Executive Director w.e.f. December 15.
2001
- Launched private placement of tier-II bonds to raise up to Rs 100 crore.
- Launched UCO Trader Scheme for trading community.
2003
- Issued IPO of 20 crore equity shares at Rs 12 each aggregating Rs 240 crore.
- Formed alliance with Central Bank of India, Indian Overseas Bank, Canara Bank, and Union Bank of India for Cash Online ATM network.
2004
- Opened new branch in Kottayam.
- Raised Rs 300 crore via private placement of unsecured redeemable non-convertible subordinated bonds.
- Launched scheme for rural poor to avail loans for LPG connections.
2005
- Formed alliance with Western Union.
- Signed agreement with Crisil for SSI ratings.
- Unveiled new deposit scheme.
- Adopted H-P for core banking solution.
2006
- Launched retail sales force.
- Planned entry into derivatives market.
- Issued maiden hybrid tier-II bond.
2007
- Shri P L Mittal appointed part-time non-official Director.
- Shri N P Sinha appointed as Director.
- Shri S A Bhat, Executive Director, appointed Chairman & Managing Director of Indian Overseas Bank.
- S K Goel named Chairman & Managing Director.
2008
- Shri Samir Kumar Sinha appointed as Director.
- Shri Jai Dev Gupta appointed part-time non-official Director.
2009
- Shri Nirmal Khatri appointed part-time Non-Official Director for three years.
2010
- Launched Festival Bonanza Offer for borrowers.
- Signed agreement with Toyota Kirloskar Motor for auto retail finance.
- Set up two new ATMs at Jodhpur Park and Kasba branches in Kolkata zone.
2011
- Collaborated with Religare Securities for online trading.
- Launched SME loan hub in Bangalore.
2012
- Recommended dividend of Rs 3 per share.
- UCO Tower magazine awarded Certificate of Merit at ICE Awards.
2013
- Ministry of MSME awarded National Award for PMEGP scheme implementation in North-East Zone.
- Received SKOCH Renaissance Award for Development.
- Ministry of Rural Development awarded 3rd Best Bank for RSETI movement.
- Received Global Sustainability Award for Outstanding Social Impact.
2014
- Awarded 1st Prize for Best Bank for operational performance.
- Received SKOCH Award for Excellence in Banking in Financial Inclusion and Deepening.
- Awarded First Prize for highest average loan to SHGs in West Bengal.
2016
- Raised Rs 270.59 crore by issuing over 7 crore shares to LIC on preferential basis.
2017
- Central Government nominated Shri Asish Saha as part-time non-official director for three years.
- Inked corporate agency tie-up agreements with Future Generali India Insurance and Liberty Videocon General Insurance for general insurance products.
2018
- Launched UCash for cardless ATM withdrawals via mobile banking.
- Launched Digilocker for sharing verified electronic documents.
- Launched new mobile app integrating UCO Mbanking, UCO UPI, UCO Mpassbook, and UCO Secure.
2019
- Launched new current account.
2022
- Acquired shares in PSB Alliance Private Limited.
2023
- Announced ISO 27001:2013 certification for IT Systems across Data Centres.
