United Credit Ltd Company Summary

United Credit Limited (UCL) is the successor to the erstwhile United Bank of India Limited (UBIL). The name of the Company was originally United India Credit and Development Company Limited (UICDCL), which has been changed to United Credit Limited on 1st January, 1981 upon compliance of applicable statutory provisions. UCL was formed in 1970 upon nationalization of the then United Bank of India Limited.

Consequent upon nationalization of the banking sector, the undertaking of UBIL became vested in the corresponding new Bank, United Bank of India (UBIL) and as per Scheme of Amalgamation approved by the Honble High Court at Calcutta by an Order dated 23.8.1974, UBIL was merged with UCDCL, and, the assets and liabilities of United Bank of India Limited were acquired by UCDCL, in 1989 Mr. Ravi Poddar took over the management of the Company.The Company is mainly divided operationally into the lease, hire purchase, consumer financing, investment and capital market operation. The overall management of the Company is vested in the Board of Directors of the Company.

It is mainly divided operationally into lease, hire purchase, consumer financing, investment and capital market operation. In FY 2024, Bank started diversifying into other areas. It has been listed with The Calcutta Stock Exchange Limited and BSE Limited.

The management has already started exploring possibilities in other areas like syndication, corporate banking, real estate and hotel industries so that the range of activities are expanded.