United Bank of India no longer exists as an independent bank. It was merged into Punjab National Bank effective April 1, 2020, as part of the Indian government’s sweeping consolidation of public sector banks — so if you’re looking for who “owns” it today, the honest answer is that it’s simply part of PNB now.
Before the merger, United Bank of India was, like most Indian public sector banks, majority-owned by the Government of India, having been nationalized in 1969.
Quick Facts
| Bank | United Bank of India (defunct as standalone entity) |
|---|---|
| Status | Merged into Punjab National Bank, April 1, 2020 |
| Pre-Merger Owner | Government of India |
| Founded | 1950 (formed from merger of two earlier banks) |
| Nationalized | 1969 |
| Current Owner of Legacy Assets | Punjab National Bank |
Ownership History
| Year | Development |
|---|---|
| 1950 | United Bank of India formed via the merger of Comilla Banking Corporation and Bengal Central Bank |
| 1969 | Nationalized by the Government of India along with 13 other major banks |
| 2019 | Government announces a major public sector bank consolidation plan, grouping United Bank of India with Oriental Bank of Commerce to merge into Punjab National Bank |
| 2020 | Merger takes effect April 1, 2020 — United Bank of India ceases to exist as a standalone legal entity, with all branches, accounts, and assets absorbed into Punjab National Bank |
Key Ownership Highlights
- United Bank of India is one of several Indian public sector banks that no longer exist independently following the government’s 2020 mega-merger round, alongside Oriental Bank of Commerce, Andhra Bank, and Corporation Bank.
- Anyone with legacy United Bank of India accounts or holdings is now effectively a Punjab National Bank customer, since the merger fully absorbed the smaller bank’s operations.
- The 2020 consolidation round was designed to create fewer, larger, more globally competitive Indian public sector banks rather than many smaller regional ones.
FAQ
Does United Bank of India still exist?
No. It merged into Punjab National Bank effective April 1, 2020, and no longer operates as a standalone bank.
Who owned United Bank of India before the merger?
The Government of India, which had nationalized the bank in 1969.
