UNION BANK OF INDIA
Union Bank of India is one of the leading public sector banks of the country. The Bank, having its headquarters at Mumbai (India), was registered on November 11, 1919 as a limited company. Today, it has a network of 9500+ domestic branches, 13300+ ATMs, 11700+ BC Points, serving over 120 million customers with 75000+ employees. The Bank also has 3 branches overseas at Hong Kong, Dubai International Financial Centre (UAE) & Sydney (Australia). Union bank has 1 representative office in Abu Dhabi (UAE); 1 banking subsidiary at London (UK), 1 banking joint venture in Malaysia; 3 Para-banking subsidiaries and 3 joint ventures (including 2 in life insurance business). The Bank is a listed entity and the Government of India holds 89.07 percent in Bank’s total share capital.
The Bank offers various types of banking and financial services to its customers such as deposits as savings account, credit cards, fixed deposits, home loan, personal loan, debit card, car loan, gold loan and more.
CSR INITIATIVES:
Union Bank of India has well developed Corporate Social Responsibility inititatives in place. The focus on the Rural sector is through Village Knowledge Centres and Farmers’ Clubs etc. They also have schemes for the girl child, where they take care of education expenses. Initiatives are in place in other areas such as providing drinking water for schools, setting up bus shelters etc. All their CSR initiatives have shown good results.
In the year 2020-21, Union Bank Social Foundation Trust funded the amount of 78.09 lakh for education, healthcare, society development, etc. Also Union bank funded the amount of 11.20 lakhs to NICS for buying two ventilators.
Their shareholding pattern consists of Promoters and Promoter Group having 83.49% of shares, Public having 7.99% shares following by FII’s having 1.67% shares and DII’s with 6.84% shares.
