A Review On Union Bank of Nigeria

Union Bank of Nigeria

Union Bank of Nigeria Plc is a commercial bank in Nigeria. It has been operating in Nigeria since 1917.Overview
Union Bank is a large commercial bank, serving individuals, small and medium-sized companies, as well as large corporations and organizations. In July 2009, it was rated the 556th largest bank in the world and the 14th largest bank in Africa. As of Mar 31, 2018, the bank's asset base was estimated at NGN1, 381 billion (US$4.1billion). The shareholders' equity at that time was estimated at NGN286 billion (US$851 million).

Overview:

Union Bank is a large commercial bank, serving individuals, small and medium-sized companies, as well as large corporations and organizations. In July 2009, it was rated the 556th largest bank in the world and the 14th largest bank in Africa. As of Mar 31, 2018, the bank's asset base was estimated at NGN1, 381 billion (US$4.1billion). The shareholders' equity at that time was estimated at NGN286 billion (US$851 million).

History:

The bank's history can be traced to 1836 when London bankers and British merchants obtained a royal charter from William IV to conduct banking business in the Caribbean. These group of investors then formed Colonial Bank. Following an act of parliament empowering the bank to open more branches beyond the Caribbean, Colonial bank began operations in Nigeria in 1917. Operations started with banking centers in Lagos, Jos and Port-Harcourt. Further centers were opened in financially important areas, in 1918, the bank opened additional centers at Ebute-Metta, Onitsha, Ibadan, Kano and Zaria and then added another branch at Burutu in 1921.During this time, Colonial's banking activities also covered other cities in British West Africa including Accra and Freetown. In 1925, Barclays Bank acquired Colonial Bank, changing the bank's name to Barclays Bank (Dominion, Colonial and Overseas) and later Barclays Bank (DCO). During the period between 1925 and 1950, commercial expansion was hampered by the Great Depression and World War II, though the bank continued to operate steadily opening a few branches but also closing some branches. In the 1950s, the bank increased operations in Nigeria and by the beginning of 1960 it had a total of 41 branches.

Banking functions are divided into two, namely: Bank function in general Banks collect public funds and channel them back to the public for various purposes, otherwise known as Financial Intermediary.

Bank functions in particular Here the function of a bank is divided into three, namely:

Agent of trust Bank
brings trust, is considered an institution that relies on trust as the key and main basis for banking activities. This trust is related to all operations involving the interests of customers. People entrusting funds with the bank means they already have confidence in this financial institution. Trust is with the aim, the public as customers can withdraw money at any time without problems, without any fear of bankruptcy

Agent of development
This is because banks are able to provide activities that encourage people to invest, distribute, consume, or services using money as the medium. All banking activities will affect community economic development. The real and monetary sectors are two sectors that influence each other. If one is not good, then one of them is also not good

Agent of service
Bank offers a variety of financial services, such as deposit services, lending, and others. Here the bank is a collector of public funds aimed at the community, so the services offered must be related to the economic activities of the community.

The bank is a business entity in the financial sector whose activities are to attract and collect money in the community to improve people's lives.

There is one type of bank, namely a commercial bank which has two basic tasks as follows.
Raising money from the public. Money in the community is collected by commercial banks in the form of savings. The money that has been saved in this bank's savings will be more secure so that people don't have to worry about losing money.
Lending money to the public. After being deposited in a savings account, the money can be withdrawn at any time by the commercial bank customer if needed. In addition, money can also be withdrawn from the bank in the form of a loan to be returned as agreed.

The function of the bank is to provide bank services, such as transfers to facilitate sending money from one area to another. In addition, payment or purchase services make it easier for the community. For example, payment of electricity or telephone bills.

Banks are also needed in terms of international transactions. The distance factor and monetary policy between two different countries usually make international transactions difficult. With the existence of a bank, it will make the settlement of international transactions easier. Banks are able to ensure smooth operation through foreign currency exchange services or international transactions.

Commercial banks are not only a financial intermediary institution from parties with a surplus of funds to parties with a deficit of funds but also as the foundation of the finances of every country engaged in business activities and various services provided. Banks serve and streamline the payment system mechanism for all sectors of the economy.

Banks as financial institutions do not always follow the correct procedures and sometimes make mistakes that cause losses for customers. One of the mistakes made is a violation of the precautionary principle. The principle of prudence as a form of legal protection for customers indirectly to anticipate losses to customers which should be implemented properly in order to maintain customer trust in the bank and prevent customer losses due to actions or unlawful acts on the part of the bank itself and prevent a decline in the level of health bank. From the research method in this writing which uses a normative juridical approach and is carried out with literature research, it is concluded that the bank must be responsible as a form of providing legal protection for all losses felt by its customers and in carrying out its duties and responsibilities it must comply with predetermined regulations and apply the principles prudence to achieve the banking objectives themselves, namely to improve economic welfare and to achieve national development goals.

Royal Bank of Canada

The Royal Bank of Canada is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 16 million clients and has 86,000+ employees worldwide.[4] The bank was founded in 1864 in Halifax, Nova Scotia, although its legal and official headquarters is located at Place Ville Marie in Montreal, Quebec. However, its corporate headquarters is located in Toronto, Ontario. RBC's institution number (or bank number) is 003. In November 2017, RBC was added to the Financial Stability Board's list of global systemically important banks.

In Canada, the bank's personal and commercial banking operations are branded as RBC Royal Bank in English and RBC Banque Royale in French and serves approximately ten million clients through its network of 1,209 branches. RBC Bank is the U.S. banking subsidiary which formerly operated 439 branches across six states in the Southeastern United States,but now only offers cross-border banking services to Canadian travellers and expats. RBC also has 127 branches across seventeen countries in the Caribbean, which serve more than 16 million clients. RBC Capital Markets is RBC's worldwide investment and corporate banking subsidiary, while the investment brokerage firm is known as RBC Dominion Securities. Investment banking services are also provided through RBC Bank and the focus is on middle market clients.

In 2011, RBC was the largest Canadian company by revenue and market capitalization.and was ranked at No. 50 in the 2013 Forbes Global 2000 listing, The company has operations in Canada, and 36 other countries and had US$673.2 billion of assets under management in 2014.

Corporate governance:
The title of Royal Bank's top executive has changed several times. Initially it was styled as President. Later, it became chief executive officer and one often carried additional responsibilities as chairman of the board, while the second-in-command was the President. Allan R. Taylor was chairman and CEO from 1986 to 1994, and he was succeeded by John Cleghorn in that capacity from 1994 to 2001. Dave McKay is currently the President and chief executive officer.

David P. O'Brien has served as the institution's chairman (non-executive) since 2004. The position was formerly held by Guy Saint-Pierre, who held the position from 2001 to 2004.

Bank Alfalah was incorporated on June 21, 1997 as a public limited company under the Companies Ordinance 1984. Its banking operations commenced from November 1, 1997. The bank is engaged in commercial banking and related services as defined in the Banking companies ordinance, 1962.
Services
The Bank provides financial solutions to consumers, corporations, institutions and governments through a broad spectrum of products and services, including corporate and investment banking, consumer banking and credit, securities brokerage, commercial, SME, agri-finance, Islamic and asset financing.

Union Bank of Nigeria vahan ka sabse behtarin Bank hai Jahan per aap kisi bhi kishan ke transaction account open karvana ho ya aap ko kisi bhi kasam ki help kis road to Paisa kahin bhi transfer karna ho to Nigeria main aapko Union Bank of Nigeria ka use karna padta hai har country ki tarah Nigerian Bank bhi aapko bahut hi suliyat ka kamal pasha pasha najar aata hai kyunki Union Bank of Nigeria main aapko har tarah ki ATM aur checkbook Solan mein mil jaati hai kyunki vah bhi Bank hai to bank ki Tanki provide karna unka hai ISI tarah State Bank of aapko aur hote hain aap Paisa transfer kar sakte aapkoPaisa transfer karna ho to aapko Union Bank of Nigeria ka use karna padta hai agar aap najriya se transfer kahin bhi kar rahe ho

Union Bank of Nigeria duniya ka behtreen Bank Nigerian country mein Hi kam kar raha hai lekin ismein aapko Paisa bhejna aur rasool karna aasan hai Nigeria Kaya behtarin Bank hai kyunki Union national Bank ki sabse badi branch Nigeria mein hai iski kam se kam 40 branches Hain Jo pure country mein kam kar rahi hai aur yah purely aapko har taraf se sport karte Hain ki aapane kis tarah company ke sath kam karna hai kya Bank kis tarah bhar Kar Raha hai is per workers bahut acche Hain aaj Kar kiski sport bahut acchi tarike se 24 ghante aapko sport karti hai iske alava Bank Puri country mein bahut acche din kaise aapko account ke bare mein jismein ceiling rate on savings plus account current account complete current account aur standard chartered account aapko provide karte hain jismein ATM aur debit card credit card bilkul free Diya jata hai Koi chij aap per Lagu nahin Di jaati iske alava iski transaction please bahut small hoti hai johar light easily manage kar leta hai

यूनियन बैंक एक बड़ा वाणिज्यिक बैंक है, जो व्यक्तियों, छोटे और मध्यम आकार की कंपनियों, साथ ही बड़े निगमों और संगठनों की सेवा करता है। जुलाई 2009 में, इसे दुनिया का 556 वां सबसे बड़ा बैंक और अफ्रीका का 14 वां सबसे बड़ा बैंक का दर्जा दिया गया। 31 मार्च, 2018 तक, एनजीएन 1, 381 बिलियन (यूएस $ 4.1 बिलियन) पर बैंक के परिसंपत्ति आधार का अनुमान लगाया गया था। उस समय शेयरधारकों की इक्विटी का अनुमान ngn286 बिलियन (us $ 851 मिलियन) था।


बैंक के इतिहास का पता 1836 में लगाया जा सकता है जब लंदन के बैंकरों और ब्रिटिश व्यापारियों ने कैरेबियन में बैंकिंग व्यवसाय का संचालन करने के लिए विलियम iv से एक शाही चार्टर प्राप्त किया। निवेशकों के इन समूहों ने तब औपनिवेशिक बैंक का गठन किया। कैरेबियन से परे अधिक शाखाएं खोलने के लिए बैंक को सशक्त बनाने वाली संसद के एक अधिनियम के बाद, कोलोनियल बैंक ने 1917 में नाइजीरिया में परिचालन शुरू किया। लागोस, जोस और पोर्ट-हरकोर्ट में बैंकिंग केंद्रों के साथ संचालन शुरू हुआ। आर्थिक रूप से महत्वपूर्ण क्षेत्रों में आगे के केंद्र खोले गए, 1918 में, बैंक ने एब्यूट-मेट्टा, ओनित्सा, इबादान, कानो और ज़ारिया में अतिरिक्त केंद्र खोले और फिर 1921 में बरतु में एक और शाखा जोड़ी। इस समय के दौरान, औपनिवेशिक की बैंकिंग गतिविधियों ने अन्य शहरों को भी कवर किया। अकरा और फ्रीटाउन सहित ब्रिटिश पश्चिम अफ्रीका में। 1925 में, बार्कलेज बैंक ने औपनिवेशिक बैंक का अधिग्रहण किया, बैंक का नाम बदलकर बार्कलेज बैंक (डोमिनियन, औपनिवेशिक और प्रवासी) और बाद में बार्कलेज बैंक (dco) कर दिया। 1925 और 1950 के बीच की अवधि के दौरान, ग्रेट डिप्रेशन और द्वितीय विश्व युद्ध के बाद वाणिज्यिक विस्तार में बाधा उत्पन्न हुई, हालांकि बैंक ने कुछ शाखाओं को खोलने के साथ-साथ कुछ शाखाओं को बंद करना भी जारी रखा। 1950 के दशक में, बैंक ने नाइजीरिया में परिचालन बढ़ाया और 1960 की शुरुआत तक इसकी कुल 41 शाखाएँ थीं

Agent of trust Bank
brings trust, is considered an institution that relies on trust as the key and main basis for banking activities. This trust is related to all operations involving the interests of customers. People entrusting funds with the bank means they already have confidence in this financial institution. Trust is with the aim, the public as customers can withdraw money at any time without problems, without any fear of bankruptcy

Agent of development
This is because banks are able to provide activities that encourage people to invest, distribute, consume, or services using money as the medium. All banking activities will affect community economic development. The real and monetary sectors are two sectors that influence each other. If one is not good, then one of them is also not good

Agent of service
Bank offers a variety of financial services, such as deposit services, lending, and others. Here the bank is a collector of public funds aimed at the community, so the services offered must be related to the economic activities of the community.