United Commercial Bank Overview and Services

United Commercial Bank is a leading financial institution that offers a wide range of services to its customers.

The bank was founded in 1943, making it a well-established player in the market.

United Commercial Bank provides a variety of personal banking services, including checking and savings accounts, credit cards, and loans.

Its services cater to individual customers, small businesses, and large corporations alike.

United Commercial Bank, or UCBH, has a rich history of growth and expansion through strategic acquisitions.

UCBH acquired Golden Coin Savings & Loan Association in 1992, marking the beginning of its expansion efforts.

The bank continued to grow, acquiring Asian American Bank & Trust Company in 2005, followed by Summit National Bank in 2006.

In 2007, UCBH made two significant acquisitions, purchasing The Chinese American Bank and Business Development Bank Ltd.

Here are some of the key acquisitions made by UCBH:

United Commercial Bank had a significant presence in Bangladesh, with 2,100 branches across the country as of 2012. The bank was a major player in the country's financial sector.

The bank's financial performance was impressive, with a total deposit of Tk 1,33,661 crore and a total asset of Tk 1,66,461 crore in 2012. This demonstrates the bank's stability and growth.

United Commercial Bank was a commercial bank, offering a range of financial services including savings and current accounts, loans, and credit cards.

When analyzing dividend information, it's essential to look at the bank's past performance. United Commercial Bank has a dividend history that can be a valuable indicator of future financial stability.

Dividend payments are a way for banks to distribute profits to their shareholders. United Commercial Bank has a track record of paying dividends, which is a positive sign for investors.

The bank's dividend history can be found in the Dividend History section of the financial information. This section provides a detailed breakdown of the bank's dividend payments over the years.

United Commercial Bank has paid dividends consistently over the past few years, which suggests a stable financial position. This stability can be attractive to investors who are looking for a secure investment option.

It's worth noting that dividend payments can vary from year to year, depending on the bank's financial performance. United Commercial Bank's dividend history shows that they have made adjustments to their dividend payments in response to changes in their financial situation.

Investors can use the bank's dividend history to make informed decisions about their investments. By analyzing the bank's past dividend payments, investors can get a sense of the bank's financial stability and potential for future growth.

Qualified Financial Contracts are a type of agreement that can be transferred in the event of a bank failure. The FDIC as receiver for United Commercial Bank transferred all Qualified Financial Contracts to East West Bank.

This transfer includes swaps, options, futures, forwards, repurchase agreements, and any other Qualified Financial Contract as defined in 12 U.S.C. Section 1821(e)(8)(D).

United Commercial Bank has been quite active in the financial sector. In 2009, they signed a contract with the Bangladesh Cricket Board to become the official sponsor of the Bangladesh national cricket team.

The bank has also been innovative in mobile financial services. Ucash, a mobile financial service, was introduced in 2013 and later renamed to Upay.

Upay has made significant strides in digital financial services. In 2021, UCB launched Upay, a digital financial service brand owned by UCB Fintech Company Limited.

To increase accessibility, Upay partnered with Grameenphone, Robi, and Banglalink. This allowed users to access Upay without an active internet connection.

The bank's financial performance has been impressive. In 2022, UCB achieved its highest profit, exceeding US$39 million, with a growth rate of 32% compared to the previous fiscal year.

United Commercial Bank is expanding its reach. Plans are in place to establish subsidiaries in Singapore, the United Arab Emirates, and Qatar to handle remittances.

The bank has also shown interest in acquiring National Bank. In 2024, UCB indicated interest in purchasing NBL, which was hit hard by high loan default rates in 2022.

United Commercial Bank (UCBH) made several strategic acquisitions over the years.

In 1992, UCBH acquired Golden Coin Savings & Loan Association.

UCBH expanded its reach further with the acquisition of Asian American Bank & Trust Company in 2005.

In 2006, Summit National Bank became a part of UCBH.

The following year, UCBH acquired The Chinese American Bank and Business Development Bank Ltd.

Here's a list of UCBH's notable acquisitions:

United Commercial Bank offers a range of services to its customers.

The bank's Automated Teller Machines (ATMs) and online service remain available, allowing customers to access their accounts and conduct transactions as usual.

Your checks will be processed as usual, and all outstanding checks will be paid against your available balance(s) as if no change had occurred.

The bank's mobile financial service, Ucash, was introduced in 2013 and was later renamed to Upay, offering customers a digital financial service brand.

Our bank has received numerous awards and recognition for its outstanding services. One notable award is the Global SME Finance Award 2022.

We have also been recognized for our excellence in the category of "Mastercard Contactless (Acquiring)" at the 'Mastercard Excellence Awards 2022'. This achievement is a testament to our bank's commitment to innovation and customer satisfaction.

In addition to these awards, our bank has been named Bangladesh's Best Bank for CSR 2023. This recognition highlights our bank's dedication to corporate social responsibility and giving back to the community.

Here are some of the notable awards and recognition we have received:

You can continue to use your bank's services during regular business hours, just like before. You'll still have access to safe deposit boxes, night deposit boxes, wire services, and more.

Your checks will be processed as usual, and all outstanding checks will be paid against your available balance(s) without any issues. If you have any problems with merchants refusing to accept your checks, contact your branch office for help.

All interest accrued through Friday, November 6, 2009, will be paid at your same rate. East West Bank will review rates and notify you of any changes.

Your automatic direct deposit(s) and/or automatic withdrawal(s) will be transferred automatically to your new bank. If you have any questions or special requests, contact a representative of your assuming institution at your branch office.

You can rest assured that your banking services will remain available and unaffected by the change.