Union Bank of India is one of the largest public sector banks in India. It was founded in the year 1919 in Mumbai, Maharashtra. The bank was initially established to cater to the banking needs of small traders and businesses. Union Bank of India was nationalised along with 13 other banks by the Government of India in the year 1969. The Government of India holds 74.76% of the bank’s total paid-up capital. On 1st April 2020, both Andhra Bank and Corporation Bank were merged with Union Bank of India.
| Particular | Details |
| Bank Name | Union Bank of India |
| Type | Public Sector |
| Founded | 11th November 1919 |
| Founder | Seth Sitaram Poddar |
| Headquarters | Mumbai, Maharashtra, India |
| MD & CEO | Ashish Pandey |
| Chairman | Srinivasan Vardarajan |
| Regulator | RBI |
| Services | Retail Banking, Corporate Banking, International Banking and more |
| Branch Network | 8,650 |
| Customer Base | 15 crore |
| Total Deposits | INR 12.34 lakh crore |
| Total Advances | INR 9.75 lakh crore |
| CASA Ratio | 32.55% |
| Bank Type Focus | Lending Products, Investments |
| Official Website | www.unionbankofindia.bank.in |
Net Worth and Market Cap
Net Worth of Union Bank of India was approximately INR 1.12 lakh crore in early 2025. The market capitalisation of the bank is currently at INR 1.34 lakh crore.
Corporate Leadership
Ashish Pandey is the Managing Director and CEO of Union Bank of India. Srinivasan Vardarajan is the Non-Executive Chairman, while Nitesh Ranjan, Sanjay Rudra, Amersh Prasad and Ramasubramanian S are the Executive Directors of the bank.
Key Banking Products and Services
Union Bank of India operates in multiple banking segments, such as retail banking, corporate banking, international banking, treasury operations and more. Its wide range of banking and financial products and services cater to various customer segments.
The bank offers a number of account and deposit options, such as savings accounts like Muskan, Prime, HNI and more, current accounts like Flexi Deposit or Micro Digital, salary accounts like Classic, Executive and Premium, and term deposits like Monthly Income Scheme, Wellness Deposit, Deposit Re-investment Certificate and more.
Corporate banking segment of the bank offers cash management services, forex services like foreign currency loans and packing credit in foreign currency, and corporate loans, such as trade finance, working capital, line of credit, project financing and channel finance.
International banking offerings include inward and outward remittances, post and pre shipment finance for exports, trade credits, foreign bank guarantees, NRI deposits and NRI investments.
Headquarters and Network
Union Bank of India is headquartered in Mumbai, Maharashtra, India. The bank has a network of 8,650 branches, 9,150 ATMs and 26,200 BC Points all over India. Furthermore, it operates 2 overseas branches at Sydney, Australia and Dubai International Finance Centre.
