Following the recent amalgamation of Andhra Bank & Corporation Bank into Union Bank of India on April 1, 2020, Union Bank of India’s footprint has grown to include a pan-Indian network of 9500+ branches and 13,500+ ATMs. Post amalgamation, Union Bank of India is now India fifth largest public-sector bank and fourth largest banking network, with a branch in every state of the country.
With the significant expansion in scale from amalgamation, Union Bank of India has rolled out a new four-tiered organization structure. The amalgamated entity’s central office (CO) will continue to be based out of its historic headquarters in Nariman Point, Mumbai. Central Office will be further supported by 18 Zonal Offices and 125 Regional Offices.
Following the successful launch of the 18 Zonal Offices last week, Union Bank of India now announces the rollout of all 125 regional offices. Speaking at a virtual launch event earlier today, MD & CEO of Union Bank of India, Shri. Rajkiran Rai G said, “With this, we have achieved one of the most significant milestones in the amalgamation journey. From an organizational perspective, all 3 banks are now almost completely integrated.”
In order to capitalize on its expanded presence, 33 of 125 regional offices are in entirely new locations such as Amritsar, Anand, Bhagalpur, Anantpur, Rajahmundry, Shimla, Amravati etc. Not only are the new offices expected to consolidate the bank’s commanding market share in traditionally strong states such as Telangana, Andhra Pradesh, Uttar Pradesh and Maharashtra but also enable it to expand its pan-India presence especially in the North Eastern area with presence of Regional Offices at Guwahati, Siliguri, Durgapur, etc. “We have put much thought into our new organization structure, we have ensured all that offices, structures, incentives and KRAs are built in such a way that they are geared towards delivering business growth. Post-amalgamation, we are India’s most dynamic PSU bank” added Shri. Rajkiran Rai G.
To mark the launch of the new Regional Offices, a virtual event was held earlier today. Prominent members of the bank’s leadership including the MD & CEO, Executive Directors, Zonal Heads, Chief General Managers, General Managers and Regional Heads attended the event. The ceremony commenced with a virtual ribbon cutting ceremony followed by an address from Shri Rajkiran Rai G., MD & CEO, Union Bank of India. In the ceremony, leadership elaborated on the vision of the new organization structure and also emphasizedstrategic reorganisation and strengthening the pan-India presence is critical to ensure an enhanced focus on business growth, customer service and to best leverage the opportunities ahead
Post the address by Mr. Rai, the newly appointed Regional Heads took pledges to demonstrate their commitment towards growing the bank. The successful launch event as well as overall strategic approach for organization planning, lends significant confidence that the new organization structure will enable the bank to scale new heights of business growth, provide best-in-class products and services and continue its legacy of serving the nation