UCO Bank Share Price

UCO Bank

It is one of the best commercial banks and a Government of India undertaking established in 1943. Its Board of Directors comprises distinguished professionals such as accountants, management specialists, economists, business people, and members of the Reserve Bank of India and the Government of India. UCO bank bonus share, etc read on to.

UCO Bank share news

UCO Bank, formerly United Commercial Bank and headquartered in Kolkata, is a government-owned bank and financial services regulatory institution in India. It is the 10th largest public sector bank in India by total assets. It was ranked 1948 on the Forbes Global 2000 list for 2018 and number 80 in the Fortune India 500 list of 2020. The institution’s revenue for the entire fiscal year 2023-2024 amounted to ₹4.50 lakh crore ($63 billion.) As of the end of the latest fiscal year, the market cap value of ₹71,078 Crores.

In the eastern part of India, no other banks are owned by the Indian government besides UCO Bank. Its headquarters is located at BTM Sarani, Kolkata. The Bank operated through forty-three (43) zonal offices and over four thousand (4000) service units across India until March 31, 2024. In addition to that, it also has two overseas branches situated in Hong Kong and Singapore

UCO Bank is a bank that makes the Rupee-Ruble trade mechanism between India and Russia or the Rupee-Rial trade mechanism between Iran and India more accessible. To show respect for people’s strong faith in Lord Shani, it established the first-ever branch that remains unlocked throughout the Shani Shinganapur region, Maharashtra.

Banking Industry Overview

India's banking sector is essential to the nation's economy. It consists of cooperative banks, foreign banks, public banks, private sector banks, and regional rural banks. The industry has increased, and its assets are over $2.5 trillion. The Indian banking sector has more than 220,000 ATMs and about 100,000 branches.

With more than 300 million internet and 200 million mobile banking users, digital banking is becoming increasingly common. The Reserve Bank of India regulates this industry to maintain financial stability and safeguard the interests of its clients. Notwithstanding obstacles such as non-performing assets, the industry is resilient and keeps up with changes in regulations and technology. All things considered, the Indian banking industry is essential to both economic growth and financial inclusion.

UCO Bank competitors

Here are the UCO Bank competitors, keeping in mind the UCO bank share price today:

• HDFC Bank
• ICICI Bank
• State Bank of India
• Axis Bank
• Kotak Mahindra Bank

UCO Bank share price history

1. 1974: Incorporated on 15th February.
2. 1992: Opened 11 branches, totalling 1783 in India and introduced several innovative deposit schemes. Implemented Planning for Development of Villages (PDV) scheme. Modified Agricultural Credit Card to UCO Kishan Patra.
3. 1994: Introduced FCNR (Banks) Scheme and opened five new branches. Appointed as the principal financing agency in six districts. Published booklet on non-resident deposit schemes.
4. 1996: Ten new branches and one extension counter were opened. The Leicester branch in the UK was closed, and the UCO Lakshmi Yojana deposit scheme was launched.
5. 2000: Introduced a 'Special Settlement' scheme for NPAs and appointed a new Chairman and Managing Director. Launched seven-day and 12-hour banking facilities. Appointed new Executive Director.
6. 2001: Launched private placement of tier-II bonds and introduced the 'UCO Trader Scheme' for the trading community.
7. 2003: Launched IPO of 20 crore UCO bank share price NSE. Formed 'Cash Online' ATM network alliance.
8. 2004: Opened a new branch in Kottayam. Raised Rs. 300 crore from the capital market. Moreover, it launched a scheme for the rural poor to receive LPG connections.
9. 2005: Formed alliances for Western Union services. Signed an agreement for SSI ratings and adopted a core banking solution.
10. 2006: Launched retail sales force and entered the derivatives market. Issued maiden hybrid tier-II bond.
11. 2007: Appointed new Directors and Chairman.
12. 2008: Appointed new Directors.
13. 2009: Appointed part-time Non-Official Director.
14. 2010:Launched 'Festival Bonanza Offer' and signed an agreement for auto retail finance. Set up two new ATMs in Kolkata.
15. 2011: Collaborated for online trading services and launched an SME loan hub in Bangalore.
16. 2012: Recommended dividend of Rs. 3 per UCO bank share price. Won awards for internal magazine and excellence.
17. 2013: Awarded for PMEGP scheme implementation. Received multiple national awards.
18. 2014: Awarded for operational performance and excellence in financial inclusion. Recognised for highest average loan to SHGs in West Bengal.
19. 2016: Raised Rs. 270.59 crores through a preferential UCO Bank share dividend history issue to LIC.
20. 2017: Appointed a new part-time non-official director. Inked agreements with insurance companies.
21. 2018: Launched three new digital products: UCash, Digilocker, and a new mobile app integrating four services. Introduced a new current account.
22. 2019: Launched a new current account.
23. 2022: Acquired UCO bank share price in PSB Alliance Private Limited.

Company Profile – Strengths and weaknesses

Strengths

• Strong capital base
• A high proportion of long-term liabilities
• A well-diversified asset portfolio
• All the UCO Bank branches are under the Core Banking Solution

Weaknesses

• Lack of international presence

The financials

Shareholding pattern of UCO Bank

Here is the shareholding pattern of UCO Bank:

• Promoters: 95.39%
• FII: 0.02%
• DII: 1.29%
• Public: 3.3%
• Others: 0%

Peer comparison