United Industrial Bank
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United Industrial Bank (UIB) was founded in
Calcutta Kolkata (, or , ; also known as Calcutta , List of renamed places in India#West Bengal, the official name until 2001) is the Capital city, capital of the Indian States and union territories of India, state of West Bengal, on the eastern ba ...
in 1940 by Jadunath Ray. In 1989
Allahabad Bank Allahabad Bank was an Indian nationalised bank with its headquarters in Kolkata, India. Founded in Allahabad in 1865 and nationalized by the government of India in 1969, the bank provided banking and financial services for 155 years until it wa ...
acquired it in a rescue. In 1963 UIB acquired two banks. One was the Prabartak Bank, which the
Prabartak Sangha Prabartak Sangha ( bn, প্রবর্ত্তক সংঘ) is a charitable institution known for its social work. It was founded in 1920 by Motilal Roy, a revolutionary, who was inspired and initiated in the spiritual path by Sri Aurobindo. Ba ...
movement had founded in Calcutta on 17 September 1929 as the Prabartak Bank and Insurance Company. At one point Prabartak Bank had a branch in
Chittagong Chittagong ( /ˈtʃɪt əˌɡɒŋ/ ''chit-uh-gong''; ctg, চিটাং; bn, চিটাগং), officially Chattogram ( bn, চট্টগ্রাম), is the second-largest city in Bangladesh after Dhaka and third largest city in B ...
. The other was the Bank of Bankura, which had been established in Calcutta on 8 June 1936. In 1964 United Industrial Bank acquired two more banks: Metropolitan Bank on 6 February, and Southern Bank on 24 August. Both Southern and Metropolitan Bank had been established in Calcutta, Southern on 10 October 1934, and Metropolitan on 16 October 1936. In 1965 the Government of East Pakistan took over UIB's branch in East Pakistan. At the time of its merger into Allahabad Bank, United Industrial had 145 branches.


References

*Reserve Bank of India. ''Statistical Tables Relating to Banks in India for the Year 1954''. (Bombay). {{Banking in India Defunct banks of India Banks established in 1940 Banks based in Kolkata Indian companies established in 1940