Banks in Kolkata form the commercial backbone of the city's financial activities. Kolkata is home to the head quarters of four nationalized banks. In addition other nationalized commercial banks have their local head office in Kolkata. Kolkata banks also include foreign and Indian private banks.
Banks Headquartered in Kolkata
The four nationalized banks that have their head quarters in Kolkata are:
- Allahabad Bank - Established in April 1865, Allahabad Bank is India's earliest joint stock bank. With its head office in N.S. Road, Allahabad Bank has 42 zonal offices and eighteen hundred branches. In March 2007, this Kolkata bank achieved a business of Rs.1,00,000 crores.
- UCO Bank - This commercial nationalized bank was established in 1943. Nationally UCO Bank has almost two thousand service units and thirty five regional offices. The head office is located in India Exchange Place/Braboourne Road.
- United Bank of India - United Bank of India became a public sector bank in July 1969. Prior to that it was established as United Bank of India Limited in 1950. Currently they have nearly 1380 retail branches and 28 regional offices throughout India. Presently their advances amount to nearly Rs 22,700 crores and deposits are over Rs.37,100 crores.
- West Bengal State Co-operative Bank - This government bank was established as the Bengal Provincial Co-operative Federation Limited in 1918 and was renamed in 1967 as West Bengal State Co-operative Bank. This scheduled bank has forty branches all over West Bengal.
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Kolkata Nationalized Banks
In addition to the above, the other government banks operating in Kolkata are:
- State Bank of India, and its group banks like State Bank of Mysore, State Bank of Hyderabad, and State Bank of Bikaner and Jaipur
- Bank of India
- Indian Bank
- Bank of Baroda
- Canara Bank
- Dena Bank
- Andhra Bank
- Vijaya Bank
- Central Bank of India
- Punjab National Bank
- Indian Overseas Bank
- Punjab and Sind Bank
- Bank of Rajasthan
- South Indian Bank
Kolkata Foreign Banks
The foreign banks that have operations in Kolkata include: ABN Amro Bank, Bank of America, BNP Paribus, Bank of Tokyo, Citibank, Deutsche Bank, HSBC, and Standard Chartered Bank.
Kolkata Private Banks
Among the private commercial banks that operate in Kolkata are Axis Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, ING Vysya Bank, and Syndicate Bank.
With so many commercial banks in Kolkata business and trade perennially flourishes in this capital city of West Bengal.
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