Page 24 - Banking Finance June 2017

PRESS RELEASE

Capital Adequacy Gorporation of lndia in its "National Payments
Under Basel lll, the Bank's Capital Adequacy Ratio stood at Excellence Awards 2016" in award giving ceremony held
11.14% with the Tier 1 capital at 8.94% as on 31st March, at Mumbai on 08-03-2017.
2017. The Bank's Capital Adequacy Ratio was at 11.68% (as 2. Enabling our Bank's Debit card for transactions in IRCTC
per Basel ll) as of March 31, 2017 . lts Tier 1 was portal and launch of personalised United lt Moments
maintained at the level of 8.28%. CRAR under Basel-lll has Platinum Card.
increased to 11.14% from 10.08% on y-o-y basis. 3. Bank has approved new Skill Loan Scheme in the name
and style "United Kaushal Rin Yojna" which will replace
Key Financial Ratios the existing Scheme for Vocational Education and
Y CASA share has increased to 47.33% as on 31st March'17 training.
against 41.92% on 31st March'16. 4. Bank has introduced two new products Voice OTP &
Y Provision coverage ratio (PCR) is 56.45 on Q4-FY 17 Mini Statement on missed call from the cell phone for
against 53.36 in Q4-FY 16. customer convenience.

Y ln annualized terms, the Bank's Return on Equity (%) 5. United Bank of lndia has tied up with TVS Motor
stood at 4.38%. Company for financing three wheelers and giving boost
to MSE sector.
Y The Return on Average Assets 0.21% for Q4 of FY: 2016-
17 as against 0.21% in previous quarter. 6. lmplementation of "Stand Up lndia" Scheme which is
one of the flagship programmes of Government of lnciia
Key Strategic Initiatives 7. Launch of Unified Payment lnterface (UPl).

1. Bank has bagged coveted special award in recognition 8. lmplementation of deposit scheme namely "Pradhan
of excellent performance in various digital products. The Mantri Garib Kalyan Deposit Scheme (PIIGKDS)' notified
special award was given by National Payments by Government of lndia.

State Bank of India Inaugurates the Bank of Bombay Heritage Gallery
‘Down Memory Lane’

‘Down Memory Lane’, the heritage gallery at the State Bank of India, Local Head Office at BKC, Mumbai is the story of
Bank of Bombay, indisputably the most charismatic of all the forebears
of State Bank of India. The gallery was inaugurated by Shri Rajnish
Kumar, Managing Director (National Banking Group), State Bank of
India on 17.04.2017.

The Bank of Bombay and its two siblings, the Bank of Bengal and the
Bank of Madras, were the dominant entities of Indian banking in the
nineteenth and early twentieth centuries. In 1920, these three
presidency banks, as they were known then, were amalgamated to
form an all India bank – the Imperial Bank of India. By an Act of
Parliament in 1955, the State Bank of India was constituted as the
successor of the Imperial Bank of India.
The Bank of Bombay had two incarnations first as the old Bank of
Bombay which operated between 1840 and 1867 and the second as
the new Bank of Bombay which operated between 1868 and 1920.
The Bank of Bombay despite operating in a far more competitive business environment than its two siblings emerged as
the most versatile in the financing of modern manufacturing industry in general and Indian manufacturing firms in
particular. A significant Indian representation on the board also ensured an open shareholder and employee-sensitive
management style unknown to most banks then. A succinct presentation of the histories of the Bank of Bombay and the
display of rare and invaluable documents make the heritage gallery a memorable experience for the visitor.

24 | 2017 | JUNE | BANKING FINANCE

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