United Commercial Bank (Bangladesh)

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United Commercial Bank PLC
TypePublic limited company
IndustryBanking
FoundedDhaka, Bangladesh
FounderAkhtaruzzaman Chowdhury Babu
HeadquartersDhaka, Bangladesh
Key people
Arif Quadri, CEO & Managing Director
ProductsBanking services
Consumer Banking
Corporate Banking

Islamic banking[1]
SME finance
Credit card
Websitewww.ucb.com.bd

United Commercial Bank PLC (UCB) is one of the largest private sector commercial bank in Bangladesh that is not a foreign bank (FCB) and is listed in Dhaka's stock exchange, as well as the Chittagong Stock Exchange.[2][3][4] It was established in 1983, twelve years after independence.

History[]

The Bank was incorporated on 26 June 1983. The government owns shares in the bank. The bank is listed in both Dhaka Stock exchange and Chittagong stock exchange.[2][5] In 2016 foreign hackers used skimmers to steal personal data from the banks ATM and used that data to clone cards.[6][7]

UCB Fintech Company Limited[]

UCB has come up with their own MFS called উপায় (UCB Fintech Company Limited). With upay, you can cash out and send money to other upay users as well. upay is a digital financial service brand owned by UCB Fintech Company Limited, a United Commercial Bank affiliate. Upay began its journey in early 2021 after acquiring a license from Bangladesh Bank, delivering a wide range of mobile financial services to consumers from all walks of life.[8]

upay has recently had successful acquisitions with companies like Grameenphone, Robi and Banglalink to ensure that their users will not need an active internet line to use the application. This makes it easier for users to use upay, as now they will not have to buy additional mobile data to have access to their upay account unlike many of its competitors.[9]

References[]

  1. ^ "ইউসিবি'র ইসলামিক ব্যাংকিং সেবা 'ইউসিবি তাকওয়া'র আনুষ্ঠানিক যাত্রা শুরু". Jugantor. 12 October 2020. Archived from the original on 4 November 2021. Retrieved 12 October 2020.
  2. ^ a b "United Commercial Bank Limited". en.banglapedia.org. Banglapedia. Archived from the original on 31 October 2016. Retrieved 30 October 2016.
  3. ^ "United Commercial Bank signs Microsoft Enterprise Agreement". dhakatribune.com. Dhaka Tribune. 25 September 2016. Archived from the original on 30 August 2017. Retrieved 30 October 2016.
  4. ^ "Jayati Chakraborty performance at Uttra Club". dhakatribune.com. Dhaka Tribune. 1 October 2016. Archived from the original on 17 September 2018. Retrieved 30 October 2016.
  5. ^ "DSEX and DS30 indexes reshuffled". Dhaka Tribune. Dhaka Tribune. July 21, 2016. Archived from the original on 2 March 2017. Retrieved 1 March 2017.
  6. ^ "Foreigners believed to be involved in Bangladesh ATM fraud ring". ChinaPost.com.tw. Archived from the original on 31 October 2016. Retrieved 30 October 2016.
  7. ^ "Four arrested for ATM fraud in Bangladesh". Business Standard India. Press Trust of India. 22 February 2016. Archived from the original on 31 October 2016. Retrieved 30 October 2016.
  8. ^ "Who we are". www.upaybd.com. Archived from the original on 2021-11-06. Retrieved 2021-11-15.
  9. ^ "Robi customers can now use upay app without Internet". UNB News.


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