Union Bank of India
Corporate brand
UnclaimedUnion Bank of India is an Indian public-sector bank headquartered in Mumbai, established in 1919 and substantially expanded through nationalisation, regional bank acquisitions, and the 2020 integration of Andhra Bank and Corporation Bank.
Last updated August 21, 2026
Overview
Union Bank of India is an Indian public-sector banking institution headquartered in Mumbai. Founded on 11 November 1919 in Bombay, now Mumbai, the bank began as a private Indian commercial bank established by Seth Sitaram Poddar. Its early corporate history is associated with the inauguration of its corporate office by Mahatma Gandhi. At Indian independence in 1947, the institution remained relatively small, operating four branches: three in Mumbai and one in Saurashtra. Its branch network expanded substantially in the following decades, reaching 240 branches by the time the Government of India nationalised the bank in 1969. Nationalisation placed Union Bank of India within India's state-owned banking system and supported a long period of geographic and balance-sheet expansion. The bank grew partly through the acquisition and integration of smaller institutions. In 1975 it acquired Belgaum Bank, whose own history included an earlier combination with Shri Jadeya Shankarling Bank of Bijapur. In 1985 Union Bank acquired Miraj State Bank, adding 26 branches, and in 1999 it acquired Sikkim Bank, which had eight branches. These transactions broadened the bank's presence and reinforced its role in serving regional and commercial banking markets. The bank developed an international presence during the 2000s. It opened offices in Abu Dhabi and Shanghai in 2007, established a Hong Kong branch in 2008, and opened a representative office in Sydney in 2009. Its overseas structure later included branches in Dubai and Sydney, as well as operations in the United Kingdom through the wholly owned subsidiary Union Bank of India (UK) Limited. International activities complemented, rather than replaced, the bank's predominantly Indian operating base. A decisive transformation occurred through India's public-sector bank consolidation programme. On 30 August 2019, the Government of India announced that Andhra Bank and Corporation Bank would be merged into Union Bank of India. The combination was intended to create a larger and more capable public-sector institution. Andhra Bank's board approved the proposal in September 2019, and the Union Cabinet approved it in March 2020. The merger became effective on 1 April 2020. The enlarged bank was described as having one of the country's largest public-sector branch networks, with approximately 9,300 branches in the post-merger period, more than 8,700 ATMs, over 8,650 domestic branches, and more than 28,550 business correspondent points according to the cited reference material. Union Bank of India's business scope encompasses retail and corporate banking, lending, deposits, payments, treasury-related activities, and financial services delivered through subsidiaries and affiliated entities. Its associated businesses include asset management, trustee services, securities services, life insurance, and regional rural banking. The bank's identity is closely tied to public ownership, broad physical distribution, and participation in India's formal banking and financial-inclusion infrastructure. Following the 2020 merger, the Union Bank name became the principal customer-facing brand for the combined institution, while the bank continued to operate as a major Indian public-sector financial institution.
History
Union Bank of India was established on 11 November 1919 in Bombay, now Mumbai, by Seth Sitaram Poddar. Its corporate office was inaugurated by Mahatma Gandhi, an event associated with the institution's early public identity. At the time of Indian independence in 1947, the bank had four branches: three in Mumbai and one in Saurashtra. It expanded during the post-independence period and had 240 branches when the Government of India nationalised it in 1969. After nationalisation, Union Bank developed through organic growth and acquisitions. In 1975 it acquired Belgaum Bank, a private-sector institution established in 1930 that had previously been associated with the Shri Jadeya Shankarling Bank of Bijapur. In 1985, Union Bank acquired Miraj State Bank, which had been founded in 1929 and contributed 26 branches. In 1999, it acquired Sikkim Bank and its eight branches. These transactions strengthened the bank's regional reach and helped build a broader domestic operating platform. The bank began expanding outside India in the 2000s. It opened offices in Abu Dhabi and Shanghai in 2007, followed by a Hong Kong branch in 2008 and a representative office in Sydney in 2009. Its international network later included branches in Dubai and Sydney. In the United Kingdom, the bank operated through Union Bank of India (UK) Limited, a wholly owned subsidiary. The most important recent structural change was the 2020 merger with Andhra Bank and Corporation Bank. The Government of India announced the proposal on 30 August 2019 as part of a wider public-sector banking consolidation programme. Andhra Bank's board approved the proposal on 13 September 2019, and the Union Cabinet gave its approval on 4 March 2020. The transaction took effect on 1 April 2020, making Union Bank of India the continuing brand and legal banking platform for the combined organisation. The enlarged institution was presented as one of India's largest public-sector banks, with approximately 9,300 branches in the post-merger network, overseas branches, thousands of ATMs, and a large business-correspondent presence. Union Bank's activities cover conventional commercial banking and related financial services. These include deposit-taking, retail and corporate lending, agricultural and rural finance, payments, remittances, treasury services, and international banking. Its wider group structure has included asset management, trustee, securities, insurance, regional rural banking, and service companies. The bank's history therefore reflects three overlapping developments in Indian finance: the expansion of state-owned banking after nationalisation, the absorption of smaller regional institutions, and the later consolidation of large public-sector banks.
- 2020
Three-bank merger becomes effective
[1]The merger of Andhra Bank and Corporation Bank into Union Bank of India took effect on 1 April 2020.
- 2019
Merger proposal with Andhra Bank and Corporation Bank announced
[1]The Government of India announced that Andhra Bank and Corporation Bank would be merged into Union Bank of India.
- 2009
Sydney representative office opens
[1]The bank opened a representative office in Sydney, Australia.
- 2008
Hong Kong branch opens
[1]Union Bank established a branch in Hong Kong as part of its international expansion.
- 2007
International offices open in Abu Dhabi and Shanghai
[1]The bank expanded its overseas presence by opening offices in the United Arab Emirates and China.
- 1999
Acquisition of Sikkim Bank
[1]Union Bank acquired Sikkim Bank and its eight branches.
- 1985
Acquisition of Miraj State Bank
[1]The acquisition added Miraj State Bank and its 26 branches to Union Bank's operations.
- 1975
Acquisition of Belgaum Bank
[1]Union Bank acquired Belgaum Bank, extending its network through the absorption of a regional private-sector bank.
- 1969
Nationalisation by the Government of India
[1]Union Bank of India was nationalised as part of India's public-sector banking system.
- 1947
The bank operates four branches at independence
[1]At the time of Indian independence, Union Bank had three branches in Mumbai and one in Saurashtra.
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Products and positioning
A government-owned Indian public-sector bank combining a large domestic distribution network with retail, agricultural, commercial, corporate, international, and financial-inclusion services.
Retail banking
Deposit accounts
Union Bank's core deposit business includes savings and current accounts for individuals, businesses, and institutions, together with term-deposit products. These accounts form the funding base for the bank's lending and payment activities and are distributed through its extensive branch, ATM, correspondent, and digital channels.
Consumer finance
Retail lending
The bank provides consumer-oriented credit through its retail-banking operations. The broad category includes personal and household borrowing, with products delivered through the bank's domestic branch network and other banking channels. Specific current product names and launch dates are not established in the supplied reference material.
Agricultural finance
Agricultural and rural banking
Agricultural and rural finance is part of the bank's public-sector banking role. Union Bank serves rural customers through branches, business correspondent points, and related regional-rural banking relationships, supporting access to formal financial services beyond major urban centres.
Corporate banking
Corporate and commercial banking
Union Bank serves companies and institutions through commercial and corporate banking, including business lending, working-capital facilities, project-related finance, transaction banking, and other services associated with larger organisations. The 2020 merger materially increased the scale of this platform.
International banking
International banking
The bank's international activities include overseas branches, representative offices, and its United Kingdom subsidiary. Its international footprint has included the United Arab Emirates, China, Hong Kong, Australia, and the United Kingdom, supporting cross-border banking and services for Indian and international customers.
Brand decisions
2019
Accept the proposed consolidation with Andhra Bank and Corporation BankM&ABackground
The Government of India pursued consolidation among public-sector banks to create institutions with greater scale. The proposed transaction would combine Union Bank with Andhra Bank and Corporation Bank.
Action taken
The merger proposal was announced on 30 August 2019. Andhra Bank's board approved it in September 2019, followed by Union Cabinet approval in March 2020.
Aftermath
The merger took effect on 1 April 2020, leaving Union Bank of India as the continuing brand and creating a much larger public-sector banking network.
Recent events
- 2020
Union Bank of India merger with Andhra Bank and Corporation Bank takes effect[1]
M&A
The Union Cabinet had approved the consolidation in March 2020, and the merger became effective on 1 April 2020.
- 2019
Government announces merger of Andhra Bank and Corporation Bank into Union Bank of India[1]
M&A
India's Finance Minister announced a proposed consolidation under which Andhra Bank and Corporation Bank would be combined with Union Bank of India, creating a substantially larger public-sector bank.
Sources2 sources
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