ESTABLISHMENT:

The idea of a truly Indian bank was first conceived of by Mr. G.D Birla, the doyen of Indian
Industrial renaissance, after the historic "Quit India" movement in 1942. Soon this nascent idea
came into reality and, on the 6th of January 1943, The United Commercial Bank Ltd. was born
with its Registered and Head Office at Kolkata. The very first Board of Directors was
represented by eminent personalities of the country drawn from all walks of life, and this all-
India character of the Bank has been assiduously maintained till this day not only in the
composition of its Board but also in the geographical spread of its 1700 odd branches in the
country as well as in its overseas centres in Singapore and Hong Kong.

Having traversed periods of expansion and consolidation, the Bank was nationalized by the
Government of India on the 19th July 1969 whereupon 100 per cent ownership was taken over
by the government in UNITED COMMERCIAL BANK. This historic event brought about a sea-
change in the entire fabric of the bank's thinking and activities, commensurate with the
government's socio-political approach of mass banking as against class banking hitherto
practised. Branch expansion started at a fast pace, particularly in rural areas, and the bank
achieved several unique distinctions in Priority Sector lending and other social upliftment
activities. To keep pace with the developing scenario and expansion of business, the Bank
undertook an exercise in organizational restructuring in the year 1972. This resulted into more
functional specialization, decentralization of administration and emphasis on development of
personnel skill and attitude. Side by side, whole hearted commitment into the government's
poverty alleviation programmes continued and the convenorship of State Level Bankers'
Committee (SLBC) was entrusted on the Bank for Orissa and Himachal Pradesh in 1983.

The year 1985 opened a new chapter for the Bank as the name of the Bank changed to UCO
BANK by an Act of Parliament. The customer friendly and socially committed character,
however, remained even with this change in name which has, over the years, been regarded as
one of the well known and vibrant banks in the country. Today, with all its inner strengths, UCO
Bank has come a long way to symbolize friendliness for customers and efficiency in its banking
business. Truly, UCO Bank HONOURS YOUR TRUST.
HISTORY:

Founded in 1943, UCO Bank is a commercial bank and a Government of India Undertaking. Its
Board of Directors consists of government representatives from the Government of India and
Reserve Bank of India as well as eminent professionals like accountants, management experts,
economists, businessmen, etc.

 Shri Arun Kaul

Chairman &
Managing Director

 Shri Ajai Kumar

Executive Director 

 Shri N. R.
Badrinarayanan
Executive Director

 Our Vision Statement

To emerge as the most trusted, admired and sought-after world class financial institution and to
be the most preferred destination for every customer and investor and a place of pride for its
employees.

Our Mission Statement

To be a Top-class Bank to achieve sustained growth of business and profitability, fulfilling

socio-economic obligations, excellence in customer service; through upgradation of skills of staff
and their effective participation making use of state-of-the-art technology.

Global banking has changed rapidly and UCO Bank has worked hard to adapt to these changes.
The bank looks forward to the future with excitement and a commitment to bring greater benefits
to you.
UCO Bank, with years of dedicated service to the Nation through active financial participation in
all segments of the economy - Agriculture, Industry, Trade & Commerce, Service Sector,
Infrastructure Sector etc., is keeping pace with the changing environment. With a countrywide
network of more than 2000 service units which includes specialised and computerised branches
in India and overseas, UCO Bank has marched into the 21st Century matched with dynamism
and growth!

 Overview

 We are in the Service of Community since 1943.

 We have nearly 2000 Service Units spread all over India.
 We also operate in two Major International Financial Centres namely Hongkong and
Singapore.
 We have our Correspondents/Agency arrangements all over the world.
 We undertake Foreign Exchange Business in more than 50 Centres in India.
 We have Foreign Exchange Dealing Operations at 4 Centres.

Strengths

 Country-wide presence
 Overseas Presence with Profitable Overseas Operations
 Strong Capital Base
 High Proportion of Long Term Liabilities
 A Well Diversified Asset Portfolio
 A Large and Diversified Client Base
 Fully Computerised Branches at Major Centres
 Branch representation in Top 100 Centres (as per deposits) in the country

 
Organisation Structure

Headquartered in Kolkata, the Bank has 35 Regional Offices spread all over India. Branches
located in a geographical area report to the Regional Office having jurisdiction over that area.
These Regional Offices are headed by Senior Executives ranging upto the rank of General
Manager, depending on size of business and importance of location. The Regional Offices report
to General Managers functioning at Head Office in Kolkata.

Shri Arun Kaul

Chairman & Managing Director

Shri Ajai Kumar

Executive Director

Shri N. R. Badrinarayanan
Executive Director

Shri S.K. Sinha Smt. Uma Shankar 

Director Director

Shri J. C. Shandil Shri Sanjeev Jain 

Director Director

Shri R.N. Jain Shri S.C. Gupta

Director Director

Shri Jai Dev Gupta Shri Ram Avtar Sharma

Director Director

Prof. Sebastian Luckose Morris Md. Akhruzzaman

Director Director
BRANCHES:

The customer service committees have been set up at1724 branches out of total 1786 – raised Rs.
300 crore from the capital market in its private placement issue of unsecured redeemable non-
convertible subordinated branches as at 31.3.1995.

REGIONAL OFFICES:
Headquartered in Kolkata, the Bank has 34 Regional Offices spread all over India. Its missions is
"to be a Top-class Bank to achieve sustained growth of business and profitability, fulfilling
socio-economic obligations, excellence in customer service; through upgradation of skills of staff
and their effective participation making use of state-of-the-art technology". 

NO OF EMPLOYEES:
Number of employees working in UCO Bank are 399409.

PROFITS:

1. The financial results for the quarter ended 30.06.2010 have been subjected to limited
review by the Statutory Central Auditors and have been approved by the Board of
Directors at its meeting held on 23rd July 2010.

2. The working results for the quarter ended 30.06.2010 have been arrived at after
considering the provision for non-performing assets, standard assets, diminution in fair
value and investment depreciation on the basis of prudential norms issued by the Reserve
Bank of India (RBI). In respect of Income Tax, Depreciation on Fixed Assets, etc.,
provision has been made on estimated basis. 

3. In terms of the Revised Accounting Standard (AS)-15 notified by the Central

Government provision has been made for Employee Benefits viz. pension, gratuity, leave
encashment, LFC/LTC, sick leave etc., on estimated and proportionate basis. The
provision charged to Profit & Loss Account includes Rs. 22.17 crore (Rs. 22.17 crore)
towards amortization of the increase in transitional liability over the pre-revised AS-15
 liability and Rs. 61.11 crore (Rs. 24.03 crore) towards current liability for the current
quarter. The unamortized portion of the increase in liability on account of Revised AS-15
is Rs. 155.21 crore (Rs. 243.90 crore) as on 30.06.2010. 

4. Revised salary having being disbursed from May 2010, provision of Rs.13.00 crore
(Rs.30.00 crore in Q1 of last year) has been made for April 2010 over and above Rs.
284.06 crore held as provision for salary revision as on 31.03.2010. For consequential
increase in liability towards other Employee Benefits such as Pension, Gratuity, etc., ad-
hoc provision of Rs. 31.34 crore (Rs. 30.58 crore) has been made for the current quarter. 

MAIN FUNCTIONS:

UCO Bank offers the following deposit schemes to its customers:

 UCO Tax Saver deposit Scheme - 2006

 No-frills Savings Bank Account
 Flexible Fixed Deposit Scheme
 Money Back Recurring Deposits
 Special Deposit Scheme for Senior Citizens
 Friend-in-Need Scheme
 Current Account in Foreign Currency at its Indian Branches
 Two-way Deposit Scheme
 Fixed Deposits in Foreign Currency at its Overseas Branches
 Lakshmi Yojana
 Revised Minimum Balance Schedule
 Kuber Yojana
UCO Bank Loan Schemes

The customers of UCO Bank can choose from the following loan schemes available for them:

 UCO Shelter
 UCO Rent
 Education Loan
 UCO Shopper
 UCO Securities
 Hirak Jayanti
 UCO Real Estate
 UCO Mortgage
 UCO Emd Loan
 UCO Nari Shakti
 UCO Trader
 UCO Pensioner
 UCO Car
 Krishi Yojana
 UCO Cash

UCO Bank Deposit Schemes for NRIs

UCO Bank offers the following deposit schemes for the Non Resident Indians:

 Foreign Currency Non Resident (FCNR-B) Deposits

 Non Resident Ordinary (NRO) Deposits
 Resident Foreign Currency (RFC) Deposits
 Rupee Deposits
 Non Resident External (NRE) Deposits

Following are the main features of the Foreign Currency Non resident (FCNR-B) Deposits
offered by UCO Bank:

 Repatriability
  Choosing the Term of Deposit
 Tax Exemption
 Automatic Renewal
 Choice of Currency
 Joint Account
 Remit in any Currency
 Power of Attorney
 No Upper Ceiling
 Nomination
 Attractive Interests
 Loans Available against FCNR Deposits
 Large Number of Branches

UCO Bank Loans to NRIs

UCO Bank offers the following loans to the Non Resident Indians:

 NRI Home Loans

 Against Deposits

UCO Bank International Banking

The following services and products are offered by UCO Bank as part of their international
banking services:

 NRI Banking
 Forex & Treasury Services
 Foreign Currency Loans
 Resident Foreign Currency (Domestic) Deposits
 Finance/Services to Exporters
 Correspondent Banking Services
 Finance/Services to Importers
 All General Banking Services
 Remittances
UCO BANK'S ATTRACTIVE LOAN SCHEMES:

Being a Commercial Bank, giving Loans and Advances is among our primary activities. Apart
from our participation in meeting both Term Loan and Working Capital requirements of
Agriculture sector, Trade and Service sector, Large/Medium and Small Scale Industries sector,
Infrastructure sector etc. including taking care of their Export/Import and non-fund based needs
like Letter of Credit, Bank Guarantee etc., we have a fairly large basket of loan products
specially designed to suit your personal needs. Salient features of some of the more attractive
Personal Loan Schemes are described below.

SERVICES AND PRODUCTS:

UCOBANK has international presence for over 50 years now. UCO presently has four overseas
branches in two important international financial centres in Singapore and Hong Kong and
representative office at Kuala Lumpur, Malaysia and Guangzhou, China.

The international linkage from India is supported by a large Indian network through Integrated
Treasury Branch andAuthorised Forex Branches. Our other branches in India also provide
international banking facilities through the Authorised Branches of our bank.This international
network is further augmented by correspondent arrangements with leading Banks at all important
world centres in various countries.Thus UCO has a true global presence and can offer a variety
of international banking products, services and financial solutions to all cross-section of clients,
tailor-made to their banking requirements through one of the best international banking
relationship networks both in terms of strength and spread.

1. PRODUCTS & SERVICES

The international banking services in India is provided for the benefit of Indian customers,
corporates, NRIs, Overseas Corporate Bodies, Foreign Companies/ Individuals as well as
Foreign Banks etc. by our International Banking Branches, Authorised Forex
Branches and Integrated Treasury Branch. Our other branches in India also provide international
banking facilities through the aforesaid network of our branches.
2. FOREIGN CURRENCY LOANS

a) In India (FCNR 'B' Loans):

The foreign currency denominated loans in India are granted out of the pool of foreign currency
funds of the Bank in FCNR(B) Deposit etc. accounts as permitted by Reserve Bank of India.
These loans are commonly known as FCNR(B) Loans.

UCO has a broad base of NRI customers/depositors. Therefore, with the resource base of
FCNR(B) deposits etc. UCO is in a position to offer the Foreign Currency Loans in India to our
customers as an alternative to loans in Rupees.

These loans are denominated in foreign currency such as US Dollars and are offered as short
term loans. The interest is fixed with a reasonable spread over LIBOR

UCO also allows loans in foreign currency to NRIs against their FCNR(B) Deposits at the
Indian Branches. The details are available in NRI Banking section.

b) From Outside India:

With presence at two major financial centers of the world, UCO has foreign currency resources
to arrange /grant Foreign Currency Loans to Indian as well as multinational corporates at the
competitive rates.

The foreign currency denominated loans are granted by our overseas branches to Indian
Corporates as per External Commercial Borrowing (ECB) Policy of Govt. of India/RBI.

3. FINANCE/SERVICES TO EXPORTERS
UCOGOLD CARD FOR EXPORTERS

UCO launches Goldcard for creditworthy exporters - Simplified access to export credit on very
good terms:

Better terms of credit including rates of interest than those extended to other exporters by the
Bank.

Processing of applications for credit faster than for other exporters.Simpler norms, subject to
specific requirements in each case, if any. 'In-principle' limits for a period of 3 years with a
provision for automatic renewal, subject to fulfillment of the terms and conditions of sanction.
Preference for grant of packing credit in foreign currency (PCFC), subject to availability of
foreign currency funds. Lower charges schedule and fee-structure than those provided to other
exporters.

Relaxations in the norms in respect of security and collaterals, wherever feasible. Other
facility/benefit to the exporters, subject to the fulfillment of extant rules and regulations
applicable to export finance.

Types of Facilities for Exports

a) Rupee Export Credit (pre-shipment and post-shipment): 

UCO provides both pre and post shipment credit to the Indian exporters through Rupee
Denominated Loans as well as foreign currency loans in India. Credit facilities are sanctioned to
exporters who satisfy credit exposure norms of UCO. Exporters having firm export orders or
confirmed L/C from a bank are eligible to avail the export credit facilities. 
Rupee Export Credit is available generally for a period of 180 days from the date of first
disbursement. In deserving cases extension may be permitted within the guidelines of RBI. The
corporates may also book forward contracts with UCO in respect of future export credit drawls,
if required, as per the guidelines/directives provided by RBI.
b) Pre-shipment Credit in Foreign Currency (PCFC):

UCO offers PCFC in the foreign currency to the exporters enabling them to fund their
procurement, manufacturing/processing and packing requirements. These loans are available at
very competitive international interest rates covering the cost of both domestic as well as import
content of the exports. 
The corporates/exporters with a good track record can avail a running account facility with UCO
for PCFC. PCFC is generally available for a period of 180 days from date of first disbursement.
In deserving cases extension may be permitted within the guidelines of RBI.

Features:

(The forward covers can be booked in respect of future PCFC drawls.)

In the PCFC drawls permitted in a foreign currency other than the currency of export, exporter
bears the risk in currency fluctuations. The foreign currency drawls are restricted to major
currencies at present. In case, the export order is in a non-designated currency, PCFC is given in
US$. For orders in Euro, Pound Sterling and JPY, PCFC can be availed in the respective
currencies or US$ at the choice of exporter.

Multi-currency drawls against the same order, are not permitted at present due to operational
inconvenience.

Repayment:

PCFC is to be repaid with the proceeds of the export bill submitted after shipment.In case of
cancellation of export order, the PCFC can be closed by selling equivalent amount of foreign
exchange at TT selling rate prevalent on the date of liquidation.
The PCFC in foreign currency are granted at our various branches through our Integrated
Treasury Branch in Mumbai.
c) Negotiation of Bills under L/C

UCO's Authorised Forex Branches are active in negotiation/discounting of sight/usance

international export bills under L/Cs opened by foreign banks as well as branches of Indian
banks abroad. UCO offers the most competitive rates. These transactions are undertaken by our
branches within the Bank/Country Exposure ceilings prescribed by UCO.

d) Export Bill Rediscounting:

UCO provides financing of export by way of discounting of export bills, as a post shipment
finance to the exporters at competitive international rate of interest. This facility is available in
four currencies i.e. US$, Pound Sterling, Euro and JPY.
The export bills (both Sight and Usance) drawn in compliance of FEMA can be purchased/
discounted.
Exporters can avail this facility from UCO to cover the bills drawn under L/C as well as other
export bills.

e) Bank Guarantees:

UCO, on behalf of exporter constituents, issues guarantees in favour of beneficiaries abroad. The
guarantees may be Performance and Financial. For Indian exporters, guarantees are issued in
compliance to RBI guidelines.
  

4. FINANCE/SERVICES TO IMPORTERS

a) Collection of Import Bills:

UCO has correspondent relationship with reputed International Banks throughout the world and
can thus provide valuable services to importers who may be importing from any part of the
Globe. The import bills are collected by our Authorised Forex Branches at very competitive
rates. The import bills drawn on customers of other branches are also collected through these
branches.
c) Financing of import
Usance L/C facility

UCO's Usance L/C facility provides the importer an opportunity to avail credit from their
supplier/supplier's bank.

Deferred Payment Guarantee/Standby LC

UCO's Deferred Payment Guarantee/Standby LC facility also provides the importer an

opportunity to avail credit from their supplier/supplier's bank.

Foreign Currency Loans

Short term External Commercial Borrowings or Trade Credits for less than three years as
permitted by RBI for imports into India is allowed by our overseas branches to Indian importers
at very competitive rates. These are generally backed by L/Cs opened by importer's bank. Indian
importers can also avail this facility from our overseas branches as roll-over credit on their bank
agreeing to extend the L/C in favour of our overseas branches.

d) Bank Guarantees:

UCO, on behalf of importer constituents or other customers, issues guarantees in favour of

beneficiaries abroad. The guarantees may be both Performance and Financial.

5. REMITTANCES

UCO, through its worldwide network of correspondents, Indian branches and overseas branches,
offers prompt inward and outward foreign remittance facilities at very competitive rates. The use
of SWIFT network adds to reliability and efficient handling.
The remittances are handled by our Authorised Forex Branches. The outward remittances of
customers of other branches are also remitted through these branches. Through our well-spread
network of branches in India, inward remittances reach every nook & corner in India. UCO has
tie-up arrangements with Western Union Money Transfer.
6. FOREX & TREASURY SERVICES

UCO operates in the Forex Market in India as well as abroad. In India the inter-bank forex
operations is centralized at our Integrated Treasury Branch in Mumbai, country's undisputed
financial hub. UCO's Authorised Forex Branchesundertake customer transactions. The forex
requirements of customers of other branches are also routed through these branches. Overseas
branches undertake the forex treasury operations in Singapore and Hong Kong centre.

All the forex treasuries are equipped with state of art technology and professionally skilled staff
to handle forex treasury operations efficiently.

UCO deals in all the important international currencies. Our Forex Treasuries generally
undertake the following treasury related activities:-
Forex Inter Bank Placements/Borrowings
Sale & Purchase of currency on behalf of customers
Forward Cover Bookings 
Cross Currency Swaps
Interest Rate Swaps (IRS)
Forward Rate Arrangements (FRAs)
Forex Money Market Operations

Forex Services For Corporates

To improve the standard of service to the valued clientele, UCO has integrated its Forex and
Domestic Treasury Operations under one roof in Mumbai. UCO's Forex Inter-bank desk at
Treasury Branch is an active market player. UCO's Integrated operations at one place in Mumbai
enables it to participate in inter-bank transactions on a large scale. Forex Dealing Rooms in
Singapore and Hong Kong and a worldwide network of correspondents add to UCO's strength in
providing the best forex corporate services.
Authorised Forex Branches spread across the country cater to needs of all customer in foreign
exchange. Corporate Forex Services include Foreign Currency Sale & Purchase, Forward
Booking, Cross Currency Forward etc. Other products like Collection & Negotiation of Export &
Import Bills under LC, LC Issuance, Advising & Confirmation Services, Arrangement of Trader
Credits, the guarantees on behalf of Indian Corporate/Projects, EEFC Accounts, Remittance etc.
are all available to corporate customers from UCO. 
UCO is establishing a Derivative Desk in India to offer various Derivative Products, such as IRS,
FRA, Cross-currency Options, Currency Swaps with Cross-currency Interest Rate Swap etc.
With this UCO will also offer structured products suitable for Corporates who have large
receivables or payment obligation in foreign currencies. Derivative Desk will deal in hedging
products to hedge the market risks i.e. interest rate risk and foreign exchange risk in Bank's
balancesheet. 

 7. RESIDENT FOREIGN CURRENCY (DOMESTIC) A/Cs

UCO also offers Resident individuals in India, the facility to open non-interest bearing current
account in foreign currency at the selected Indian branches as permitted by RBI. Joint accounts
with a resident eligible to open RFC (D) account is permissible. Nomination facility is also
permitted. Thus UCO will provide an option to resident individuals to retain their receipts from
abroad in foreign currency as permitted by RBI.

 8. CORRESPONDENT BANKING SERVICES

The extensive network of branches in India and presence in two important international centres
enables UCO to offer correspondent banking services to the banks.
The Authorised Forex Branches in India as well as our overseas branches are capable of
providing the services that an international correspondent Bank can offer.

UCO can provide the following main services:-

i. Collection of bills both Documentary and Clean.

 ii. Advising/confirming of L/Cs opened by banks
iii. Discounting of Bills drawn under L/Cs
iv. Maintanence of foreign currency accounts in S$ and HK$
v. Maintanence of Rupee accounts in India
vi. Making foreign currency payments/remittance on behalf of customers of banks.

UCO's excellent service with competitive charges provide a good Correspondent Banking
solution.
UCO's overseas branches are active in discounting of usance international trade bills. With
foreign currency resources of overseas branches, UCO offers the most competitive rates for
discounting of these bills. The bills under the L/Cs of the most of the Indian Banks as well as
International Banks are also discounted at competitive rates. These transactions are undertaken
by them within the Bank/Country Exposure ceilings prescribed by UCO.

EXTERNAL COMMERCIAL BORROWING (ECB)

The foreign currency loans to the Indian corporate are granted by UCO's overseas branches. The
borrowings raised by the Indian corporate from specified banking sources outside India are
termed "External Commercial Borrowings" (ECBs). These ECBs can be raised within the Policy
guidelines of Govt. of India/Reserve Bank of India, as applicable from time to time. ECB
includes the following:-

i. Commercial LoansSyndicated Loans

ii. Floating/Fixed rate notes and bonds
iii. Lines of Credit from foreign banks and financial institutions
iv. Import loans, loans from the export credit agencies of other countries.

UCO is very active in granting and arranging various forms of ECB facilities for the
Indian Corporate. UCO can offer following services to the Indian corporates in respect of
cross border financing :-
 i. Arranging/granting External Commercial Borrowings by way of Foreign Currency
Loans, FRNs, Bonds for the Indian corporates.
ii. Arranging/underwriting International Syndicated Loans for the Indian corporates.
iii. Participating in the International Loan Syndications.
iv. Granting loans backed by Export Credit Agencies.
v. Providing import finance for Indian Corporates.
vi. Issue of Guarantees such as Bids, Bonds, Performance, Advance Payment etc. for the
overseas projects bagged by the Indian Corporates.

AWARDS AND REWARDS:

UCO Bank was declared the winner of the LeapVault Change

Leadership Awards 2010 under the Corporate Change Leadership
(Business Turnaround category).In a glittering function held at
Mumbai K.V.Kulkarni,Field GM Mumbai,UCO Bank received
the award on behalf of the Bank from the Guest of
Honour,Salman Khursheed,Honble Minister of Corporate Affairs and Minority
Affairs,Government of India.A Jury comprising of eminent bureaucrats,industrialists and
economists selected UCO Bank for the award.

CONCLUSION:

1. Revised salary having being disbursed from May 2010, provision of Rs.13.00 crore
(Rs.30.00 crore in Q1 of last year) has been made for April 2010 over and above Rs. 284.06
crore held as provision for salary revision as on 31.03.2010. For consequential increase in
liability towards other Employee Benefits such as Pension, Gratuity, etc., ad-hoc provision of Rs.
31.34 crore (Rs. 30.58 crore) has been made for the current quarter. 
 2. In terms of the Revised Accounting Standard (AS)-15 notified by the Central
Government provision has been made for Employee Benefits viz. pension, gratuity, leave
encashment, LFC/LTC, sick leave etc., on estimated and proportionate basis. The provision
charged to Profit & Loss Account includes Rs. 22.17 crore (Rs. 22.17 crore) towards
amortization of the increase in transitional liability over the pre-revised AS-15 liability and Rs.
61.11 crore (Rs. 24.03 crore) towards current liability for the current quarter. The unamortized
portion of the increase in liability on account of Revised AS-15 is Rs. 155.21 crore (Rs. 243.90
crore) as on 30.06.2010. 

 They cut through marketing clutter and communicate your brand

promise in a sticky, memorable way.
 They are an accountability tool in that they remind you of your own brand
promise.
 They are the customers’ indicator of a future experience.